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Business
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| Number of pages / Number of words: |
12 / 3085 |
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This is sometimes referred to as the horizontal summation of all the individual demand curves.
THE DEMAND CURVE:-
The demand curve shows what quantities would be demanded at any given price, if other things do not change. These other things are discussed later in this chapter but it is important to realize, right at the beginning, that the demand curve shows what happens to quantity demanded when price changes and there is no change in any of the other factors influencing demand (e...
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These other things are discussed later in this chapter but it is important to realize, right at the beginning, that the demand curve shows what happens to quantity demanded when price changes and there is no change in any of the other factors influencing demand (e.g. income, taste, fashion and so on)...
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General points of the essay
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