Demand and Supply for Money

Economics- Phase (I & II)

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An individual demand curve slopes downward to the right because of the

Working of the law of diminishing marginal utility

Substitution effect of decrease in price

Income effect of fall in price

All of the above

Explanation:

An individual demand curve slopes downward to the right because of the Working of the law of diminishing marginal utility, Substitution effect of decrease in price and Income effect of fall in price.

By: honey kaundal

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