State the law of Demand. Describe income and substitution effects of change in price
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The law of demand states that quantity demanded increases when price decreases, but why? Two reasons why the demand curve slopes downward are the substitution effect and the income effect. The income effect states that when the price of a good decreases, it is as if the buyer of the good's income went up.
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boys they are handsome and strong but always the first to tell me I'm wrong boys try to tame me I know they tell me I'm weird and won't let it go
no Im fine
I'm lying on the floor again
cracked door I always wanna let you in
because
princesses don't cry
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