Equation of law of demand

1.	Equation of law of demand
Answer» 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.<br>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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