The law of focuses entirely on the effect of a change in the good's price on the quantity of the good consumed and holds everything else constant.
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Solution 1
The law you're referring to is the "Law of Demand". This economic law states that, all else being equal, as the price of a product increases, quantity demanded falls; likewise, as the price of a product decreases, quantity demanded increases. Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem. Knowee AI StudyGPT is a powerful AI-powered study
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