Answer to Question #314217 in Management for ann

Question

: Analyze the problem carefully. In December, the price of ―hamon‖ rises and the number of ―hamon‖ sold also rises. Is this a violation of the law of demand? Justify your answer. 

Answer 1

The scenario stated in question statement is indeed a violation or it goes against the law of demand. In economics, law of demand states that keep others factor constant and considering price and demand only, price is inversely proportional to demand