Economy, asked by sonu8647, 1 year ago

why does demand curve slope downward? explain

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Answered by pravinJ
6
hope this will help you
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Answered by jadhav50
3
The income and substitution effect can also be used to explain why thedemand curve slopes downwards. If we assume that money income is fixed, the income effect suggests that, as the price of a good falls, real income - that is, what consumers can buy with their money income - rises and consumers increase their demand
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