Correct Answer: Option D

Explanation

The law of demand states that, all things being equal, as the price (P) of a good or service decreases, the quantity demanded (Qd) increases, and vice versa. This relationship can be expressed as a function where the quantity demanded is a function of price.

In economic terms, the law of demand is typically expressed as Qd = f(P), which implies a negative slope. This indicates that as prices rise, the quantity demanded decreases.

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