Do you agree with the following statements? Give reasons. (a) There are some exceptions to the law of demand. (b) There are no exceptions to the law of demand. (c) When the price of petrol rises, the demand for cars decreases. (d) Demand is a relative term (e) Price is the sole determinant of demand. (f) Demand curve can never have an upward slope.

Do you agree with the following statements? Give reasons. (a) There are some exceptions to the law of demand. (b) There are no exceptions to the law of demand. (c) When the price of petrol rises, the demand for cars decreases. (d) Demand is a relative term (e) Price is the sole determinant of demand. (f) Demand curve can never have an upward slope.

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter4: Demand, Supply, And Markets

Section: Chapter Questions

Problem 2QFR

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