MCQOPTIONS
Saved Bookmarks
| 1. |
Which one of the following is not an assumption in the law of demand? |
| A. | There are no changes in the taste and preferences of consumers. |
| B. | Income of consumers remains constant. |
| C. | Consumers are affected by demonstration effect. |
| D. | There are no changes in the price of substitute goods. |
| Answer» D. There are no changes in the price of substitute goods. | |