Discussion
Law of demand was graphically illustrated by:
Answer: A
The law of demand was graphically illustrated by Alfred Marshall, who drew the demand curve on a diagram, with price on the vertical axis and quantity on the horizontal axis, and stated the law in his Principles of Economics. Adam Smith wrote about the division of labour and the invisible hand, Pigou worked on welfare economics, and Irving Fisher on money and interest. The answer is Marshall, option A. The curve slopes downward because quantity demanded rises when price falls, other things equal, which is the law itself.
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