What is the law of demand?

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asked Apr 15, 2020 12.8k views

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Keloo · Answer 1 · 2020-04-19T17:42:20+0000

Answer:

The law of demand states that all other things being equal, the quantity bought of a good or service is a function of price. As long as nothing else changes, people will buy less of something when its price rises. They'll buy more when its price falls.

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What is the law of demand?

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