Explain the tastes of the buyer must not alter, Managerial Economics

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Tastes of the buyer must not alter

Any alteration which takes place in the taste of consumers will in all probability thwart the working of the law of demand. It frequently happens that when fashions or tastes change people revise their preferences. As a consequence, demand for the commodity that goes down the preference scale of the consumers declines even though its price doesn't change.

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