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Question
What is the relationship between price and quantity demanded according to the Law of Demand?
Options
As price rises, quantity demanded increases
As price rises, quantity demanded stays the same
As price falls, quantity demanded increases
As price falls, quantity demanded decreases
MCQ
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Solution
As price falls, quantity demanded increases
Explanation:
The Law of Demand states that, other things being equal, when the price of a commodity falls, the quantity demanded increases.
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