isaacross1010 isaacross1010
  • 06-10-2020
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Price of McDonald's food goes up. What happens to the DEMAND for Burger king?

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AishwaryaK
AishwaryaK AishwaryaK
  • 06-10-2020

Answer:

If the price goes up, the quantity demanded goes down (but demand itself stays the same). If the price decreases, quantity demanded increases. This is the Law of Demand. On a graph, an inverse relationship is represented by a downward sloping line from left to right.

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