Explain law of demand with schedule and diagram – InterviewSolution

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1.	Explain law of demand with schedule and diagram
Answer» TION:The law of demand expresses a relationship between the QUANTITY demanded and its PRICE. It may be defined in MARSHALL’s words as “the amount demanded increases with a fall in price, and diminishes with a rise in price”. Thus it expresses an inverse relation between price and demand. The law refers to the direction in which quantity demanded changes with a CHANGE in price.

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