ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The law of demand assumes ceteris paribus which means ____
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factors such as price remains unchanged.
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all other factors remain unchanged.
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that the only factor to change is the consumer’s income.
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all of the above.
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Explanation:
Detailed explanation-1: -Economists say the law of demand demonstrates that ceteris paribus, more goods tend to be purchased at lower prices. Or that, if demand for any given product exceeds the product’s supply, ceteris paribus, prices will likely rise. In this situation, the price of an item is the only variable that should change.
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