The law of demand is a rule stating that more will be demanded at lower prices and less at higher prices; inverse relationship between price and quantity demanded.

question 15 options:
true
false

True

Explanation: In 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 (↑)".[1] In other words, the law of demand describes an inverse relationship between price and quantity demanded of a good

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