ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Other things remaining the same, the amount demanded increases with a fall in price and diminishes with a rise in price.
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Is it true for Law of Demand
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It is incorrect for the Law of Demand
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It is true for Law of Supply
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It is incorrect for the Law of Supply
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Explanation:
Detailed explanation-1: -“The Law of Demand states other things being equal, the quantity demanded of a commodity increases when its price falls and decreases when its price rises. There are several assumptions of the Law of Demand.”
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