Business, 05.11.2020 19:10 xxiigiddy18

Consider whether the Law of Demand holds in the following situations. The price of anti minus venom serumanti−venom serum, sold to those with snake bitessold to those with snake bites, increased from $45 to $52, but consumption has still remained the same. In this situation, the Law of Demand .A. does not hold, since the product is not sold in normal markets, so it cannot follow the Law of Demand. B.holds, since the Law of Demand must hold for all goods in all instances. C.does not hold, since the product sold is required for survival, so increasing the price did not affect consumption. D.holds, since a change in the price of the product resulted in a change in the quantity demanded of the product.

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Consider whether the Law of Demand holds in the following situations. The price of anti minus venom...

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