Which of he of the following demand functions is inconsistent with the Law of Demand? (Q_d= quantity demanded, P=price, i=income)

A) Q_d= 120/P

B) Q_d= 120 + 3P - 2i

C) Q_d= 2i + 120/P

D) Q_d= 120 - 2P

E) Q_d= 120 - 3P + 2i

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harshrajLv1

24 May 2023

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Which statement is consistent with the law of demand?

1. A reduction in market price will lead to a decrease in quantity demanded.

2. A reduction in market price will lead to an increase in quantity demanded.

3. An increase in market price will lead to an increase in quantity demanded.

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