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Murrr4er [49]
1 year ago
5

The claim that, with other things being equal, the quantity demanded of a good falls when the price of that good rises.

Business
1 answer:
Svet_ta [14]1 year ago
8 0

The Law of Demand states that with other things being equal, the quantity demanded of a good falls when the price of that good rises.

<h3>What is the demand law?</h3>
  • According to the law of demand, as a good's price drops, so does the amount that is sought for.
  • In other words, according to the law of demand, the demand curve is always downward sloping as a function of quantity and price.
  • The law of demand, a cornerstone of microeconomics, asserts the inverse connection between price and quantity desired.
  • In other words, "subject to all other things being equal, the quantity wanted will drop as the price of a good increases , and the quantity demanded will increase as the price of a good lowers .
  • The Law of Demand states that with other things being equal, the quantity demanded of a good falls when the price of that good rises.

To learn more about The Law of Demand, refer to the following link:

brainly.com/question/24500422

#SPJ4

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3 years ago
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MRCORRECT has answered the question

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