Which of the following statements is true with respect to the law of demand?
Demand curve of a normal good is usually negatively sloped.
The law of demand states that, with all else being equal, as the price of a good or service increases, the quantity demanded decreases. This implies that the demand curve is generally downward sloping, indicating an inverse relationship between price and quantity demanded. Therefore, option 2 is correct, as it accurately reflects the negatively sloped demand curve for normal goods.
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