Directions: Analyze the problem carefully. In December, the price of "hamon"
rises and the number of "hamon" sold also rises. Is this a violation of the law
of demand? Justify your answer.
Answers
Answered by
6
Answer:
a good call is called goods
Answered by
48
Explanation:
The scenario stated in question statement is indeed a violation or it goes against the law of demand.
In economics, law of demand states that keep others factor constant and considering price and demand only, price is inversely proportional to demand. It means that when the price of a product increases, then its demand will decrease.
Now in given case, when price of hamons are increased, then demand is increasing which is not what law of demand states
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