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The law of demand states that as the demand by consumers for a certain resource increases, the amount produced will increase. Contrarily, if demand decreases, the amount produced will decrease.
Microeconomics: Principles, Problems, & Policies, 20th Edition
by McConnell, Campbell; Brue, Stanley; Flynn, Sean
Published by
McGraw-Hill Education
ISBN 10:
0077660811
ISBN 13:
978-0-07766-081-9
Chapter 3 - Demand, Supply, and Market Equilibrium - Discussion Questions - Page 72: 1
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