Question

Explain the law of demand with assumptions​

Answer 1

Explanation:

Main assumptions of the law of demand are as follows: Prices of the related goods do not change. Incomes of the consumers do not change. Tastes and preferences of the consumers remain constant. No expectation of the consumer to any change in the price of the commodity in the near future.

Answer 2

Explanation:

Main assumptions of the law of demand are as follows: Prices of the related goods do not change. Incomes of the consumers do not change. Tastes and preferences of the consumers remain constant. No expectation of the consumer to any change in the price of the commodity in the near future.