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How Income level must remain constant - law of demand
The law of demand operates only when income level of the buyer remains constant. If income rises when the price of commodity doesn't fall, it's quite likely that demand may increase. Thus, stability in income is an essential condition for the operation of the law of demand.
Problem: (a) Explain with the help of a diagram, the effect on a consumer's equilibrium, of an increase in the price of commodity X while the consumer's money income and price
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I would like to get the answer to the question - Weston Industrial Manufacturing Products ("WIMP") has the capability to produce a variety of industrial products, including a numb
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