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  • 01-10-2020
  • Business
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How does the law of demand affect consumers

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sharmansierra25
sharmansierra25 sharmansierra25
  • 01-10-2020

Answer:

The law of demand is an economic principle that states that consumer demand for a good rises when prices fall while conversely, consumer demand falls when prices rise. ... As a result, the price consumers are willing to pay for a good decline as their utility decreases.

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