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ipn [44]
3 years ago
5

What 3 concepts explain the law of demand?

History
1 answer:
uysha [10]3 years ago
8 0
Law of demand: At higher prices, a lower quantity will be demanded than at lower prices, other things being equal. Alternatively, <span>at lower prices, a higher quantity will be demanded, other things being equal.  </span>The major nonprice determinants of demand are: (1) income, (2) tastes and preferences, (3) the price of related goods.
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