Although this is generally a true statement, it is not
alway true.
In general, people do demand more of a product
when it is at a low price and less of it when it is at a high
price.
However, it is at least theoretically possible to
have a product for which demand is perfectly inelastic. For such a product, people will
buy the same amount regardless of the price. Here, the demand curve is
vertical.
It is also possible for a product to have
perfectly elastic demand where people will buy a given product, but only at one price.
Here, the demand curve is horizontal.
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