Question

when does law of demand tell us when the price goes down

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Answer 1

In microeconomics, the law of demand is a fundamental principle which states that, "conditional on all else being equal, as the price of a good increases (↑), quantity demanded will decrease (↓); conversely, as the price of a good decreases (↓), quantity demanded will increase (↑)".

Answer 2

Answer:

The law of demand states that quantity purchased varies inversely with price. In other words, the higher the price, the lower the quantity demanded...

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