Economy, asked by tanupriya536, 6 months ago

State the Law of Demand. What is meant by assumption "Other things remaining the same"?

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Answered by PayalGiri
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Answer:

The law of demand states that, other things remaining the same, the quantity demanded of a commodity is inversely related to its price. ... Other things remaining the same, the amount demanded increases with a fall in price and diminishes with a rise in price.

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