Economy, asked by SwatiAgrawal, 1 year ago

explain in brief ceteris paribus assumption of the law of demand

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Answered by sgitte7077gmailcom

6

Description: This Latin phrase is generally used for saying 'with other things being the same'. It is particularly crucial in the study of cause and effect relationship between two specific variables such that other relevant factors influencing these are assumed to be constant by the assumption of Ceteris Paribus.

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