Exceptions To The Law of Demand
Generally, the amount demanded of a good increases with a decrease in price of the good and vice versa. In some cases, however, this may not be true. Such situations are explained below.
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“... people were so ridiculous with their illusions, carrying their fools’ caps unawares, thinking their own lies opaque while everybody else’s were transparent, making themselves exceptions to everything, as if when all the world looked yellow under a lamp they alone were rosy.”
—George Eliot [Mary Ann (or Marian)
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—Victor Hugo (1802–1885)
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“Tragedy dramatizes human life as potentiality and fulfillment. Its virtual future, or Destiny, is therefore quite different from that created in comedy. Comic Destiny is Fortune—what the world will bring, and the man will take or miss, encounter or escape; tragic Destiny is what the man brings, and the world will demand of him. That is his Fate.”
—Susanne K. Langer (1895–1985)