In the context of economic theory, the 'Law of Demand' may not hold in the case of:

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The law of demand does not hold for Giffen goods (where income effect outweighs substitution effect) and Veblen goods (where higher price increases demand due to prestige value).

In the context of economic theory, the 'Law of Demand' may not hold in the case of: MCQ with Answer and Explanation

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