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Demand Curve
The demand curve is a graph which presents the amount of a good that consumers are willing and able to buy at various prices. A normal demand curve is downward sloping because of the law of demand which states that as the price rises the demand for the product will fall, suppose consumers have a fixed income.
REAL VERSUS NOMINAL PRICES • Nominal price is a complete or current dollar price of a good or service when it is sold. • Real price is the price related to a combined me
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