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प्रश्न
True or False with Reasons:
Consumer’s taste and preferences must change in order to apply Law of Demand.
चूक किंवा बरोबर
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उत्तर
This statement is false.
Reason:
- The law of demand applies while other factors, including tastes and preferences, are held constant.
- Therefore, tastes and preferences must not change when applying the law of demand.
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