Economy, asked by devendra8580, 6 months ago

demand and price are inversely related. True or false?

Answers

Answered by afsana620ali

Answer:

False. The relationship between price and demand is negative i.e., they are inversely related. By inversely related we mean that as the price of the goods increase the demand of that commodity decreases and vice versa. This because of the law of diminishing marginal utility.

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