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What does the law of demand state?

a.When the price is higher, the quantity demanded is higher.
b.When the price is higher, the quantity supplied is lower.
c.When the price is lower, the quantity demanded is higher.

2 Answers

1 vote
B is the correct answer here
Hope this helps
User Pengju Zhao
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6 votes

Answer: Option 'B' and 'C' are correct.

Explanation:

"Law of demand" states all factors remains constant, price of commodity and the quantity demanded of that commodity is inversely related to each other."

So, it means if price of commodity rises, the quantity demanded will be decrease.

On the other hand, if price of commodity falls, the quantity demanded will be increase.

Hence, according to law we get that

Option 'B' and 'C' are correct.

User Atul Agrawal
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6.5k points