The law of demand state correct option is (a) price and quantity demanded are inversely related.
What is law of demand states?
The law of demand is a fundamental principle of the economic idea of higher price leads to a lower quantity demanded and that a lower price leads to a higher quantity demanded.
The rule of demand, if all other variables remain constant, the price and quantity desired of any good or service are inversely related. When the price of a product rises, the demand for that product low as well.
As result, the law of demand states as remain constant towards a price and quantity demanded are inversely related.
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