Equation of law of demand
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Posted by Komal Jamwal 6 years, 3 months ago
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Chikki Kaur 6 years, 2 months ago
When the price of commdity decreases then the demand is increases, when the price of commodity increases then the demand is decreases, is commonly known as law of demand.
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Sia ? 6 years, 3 months ago
Law of demand states that there is an inverse relationship between the price and quantity demanded of a commodity, keeping other factors constant i.e., price of substitutes goods, taste of the consumer, income of the consumer etc.
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