Relationship between price and demand (2.8.3 Law of Demand) a) Positively b) Negatively c) No Relationship d) Relationship
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Answer:
d) Relationship
Explanation:
Inverse Relationship of Price and Demand
Inverse Relationship of Price and DemandThus, the price of a product and the quantity demanded for that product have an inverse relationship, as stated in the law of demand. An inverse relationship means that higher prices result in lower quantity demand and lower prices result in higher quantity demand.
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Answer:
d) Relationship
Explanation:
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