The law of demand states that as the price for an item or service increases,so will the supply and that if the price is lower,the supply will also be less.

Question

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The law of demand states that as the price for an item or service increases, the quantity demanded will decrease and vice versa. It does not have a direct relationship with supply. The law of supply states that as the price for an item or service increases, the quantity supplied will increase and vice versa.

The Law of Demand States That as the Price for an Item