The law of demand states that, other things being equal, as price of a good rises: MCQ with Answer and Explanation

Explanation:
Monopsony refers to a market with a single buyer. While monopsony is a market structure, the option 'Monopsony of labour only' incorrectly restricts it. Standard market structures are perfect competition, monopoly, monopolistic competition and oligopoly.

Explanation:
Hotel rooms above Rs 7,500 attract 18% GST.

Explanation:
Betting and gambling attract 28% GST.