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A Demand Curves Slope Downward Because the __________________ Effect of a Price

Question 33

Short Answer

A. Demand curves slope downward because the __________________ effect of a price change is negative and dominates the _____________________ effect, which can be either positive or negative. Thus the ______ effect is negative.
B. Market demand is the _____________ summation of the ______________ of all the consumers in the market.

Correct Answer:

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A. substitution; inc...

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