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31 March, 14:07

Suppose the price of eggs decreases from $5 per dozen to $4 per dozen. According to the law of -, we should expect the - to increase.

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  1. 31 March, 14:35
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    Demand; Quantity Demanded

    Explanation:

    According to the law of demand,

    Law states that there is a negative or inverse relationship between the price of the good and the quantity demanded for that good which means that an increase in the price of a good will result in a fall in quantity demanded for that good and a decrease in the price level of the good will result in an increase in the quantity demanded for that good.

    In our case, the price of eggs falls from $5 per dozen to $4 per dozen then as a result there is an increase in the quantity demanded for the eggs.
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