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Question
Law of Demand states the ______ relationship between price and quantity demanded.
Options
Inverse
Positive
Proportional
None of these
MCQ
Fill in the Blanks
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Solution
Law of Demand states the inverse relationship between price and quantity demanded.
Explanation:
The law of demand states that, other things being equal, quantity demanded falls when price rises and rises when price falls. This is an inverse relationship.
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