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Maximum production combinations - PowerPoint PPT Presentation

The law of demand states that: as the price of a good increases, more units are demanded.

#1. The law of demand states that: as the price of a good increases, more units are demanded. there is a direct relationship between the price of a good and the quantity of the good produced. there is a negative relationship between the price of a good and the quantity of the good demanded.

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Maximum production combinations - PowerPoint PPT Presentation

The law of demand states that: as the price of a good increases, more units are demanded.