Demand curves are derived while holding constant

Name: Demand curves are derived while holding constant
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Quizplus · Accepted Answer

Demand curves are derived while holding constant the income, tastes, and the prices of other goods. This is because the demand for a good is affected not only by its own price but also by the prices of other related goods and the consumer's income and preferences. By holding these factors constant, we can isolate the effect of the price of the good on the quantity demanded.

Demand Curves Are Derived While Holding Constant