Economy, asked by komal6495, 1 month ago

Explain circumstances under which the law of demand be violated?

Answers

Answered by Anonymous
3

It's when consumers consume more of an inferior good when the price of the good rises, which is in direct violation of the Law of Demand. For example, for staple foods like rice, when the price of rice rises, people with lower incomes will spend less on other superior foods and instead buy more rice

Similar questions