Briefly explain any three determinants for the negative slopes of the – InterviewSolution

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1.

Briefly explain any three determinants for the negative slopes of the demand

Answer»

Demand CURVES generally have a negative slope indicating INVERSE relationship between qyantury demanded and price.

Determinents for the negative slope of demand are :

1.Law of diminishing marginal UTILITY.

2.Income EFFECT.

3.substitution effect.

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