Question

state any two assumption of the law of demand​

Answer 1

Answer:

Assumptions under which law of demand is valid

No change in price of related commodities. No change in income of the consumer. No change in taste and preferences, customs, habit and fashion of the consumer. No expectation regarding future change in price.

Answer 2

Answer:

No change in price of related commodities.No change in income of the consumer..

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