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The law of demandstates that, other things equal:
The law of demand
states that, other things equal:
the larger the number of buyers in a market, the lower will be productprice.
the larger the number of buyers in a market, the lower will be product
price.
consumers will buy more of a product at high prices than at low prices.
price and quantity demanded are inversely related.
price and quantity demanded are directly related.
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