Question

what is LAW OF DEMAND?Expalin assumption and exception?​

Answer 1

Explanation:

Law of Demand: Schedule, Curve, Function, Assumptions and Exception. ... It states that the demand for a product decreases with increase in its price and vice versa, while other factors are at constant. Therefore, there is an inverse relationship between the price and quantity demanded of a product.

Answer 2

Explanation:

microeconomics, the law of demand states that, "conditional on all else being equal, as the price of a good increases (↑), quantity demanded decreases (↓); conversely, as the price of a good decreases (↓), quantity demanded increases