Answer to Question #148078 in Macroeconomics for Alexis Barnhart

Question

I buy $100 New Balance athletic shoes more often than $25 Walmart branded athletic shoes. Does this violate the Law of Demand?

Answer 1

The law of demand maintains that when the price of a commodity is high the demand decreases and when the price of a commodity is lower consumers will be in a position to buy more of the commodity.New balance athletic shoes has higher price than the Walmart branded athletic shoes. Consumers will demand more of Walmart athletic shoes because of it's favourable price than the New balance athletic shoes.