Which of the following is true for the law of demand?

Question

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The law of demand states that there is an inverse relationship between the price of a good and the quantity of the good demanded. As the price of a good increases, the quantity demanded decreases and vice versa. Option A is incorrect as sellers usually increase the quantity of a good available if the price of the good increases. Option B is incorrect as an increase in price may result from various factors such as an increase in demand or decrease in supply. Option D is incorrect as prices generally decrease with an increase in demand due to economies of scale.

Which of the Following Is True for the Law of Demand