Question

explain the law of demand and exception of law of demand.​

Answer 1

Answer:

in microeconomics the law of demand states that conditional on all else being equal as the price of a good increases quantity demanded grazers conversely is the price of good decreases quantity demanded increases....

Answer 2

Answer:

Giffen and Veblen goods are exceptions to the

Law of Demand. ... The Law of Demand states

that the quantity demanded for a good or service

rises as the price falls, ceteris paribus (or with all

other things being equal). Therefore, the Law of

Demand is an inverse relationship between price

and quantity demanded.

Explanation:

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