The law of demand says that when the price of pepperoni rises, the demand for pizza falls.

Name: The law of demand says that when the price of pepperoni rises, the demand for pizza falls.
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Question

Quizplus · Accepted Answer

The law of demand states that, all else being equal, as the price of a good increases, the quantity demanded of that good decreases, and vice versa. It does not directly relate the price of one good (pepperoni) to the demand for another good (pizza), which involves cross-price elasticity of demand.

The Law of Demand Says That When the Price of Pepperoni