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Monday, April 14, 2014
Income vs Substitution Effect. Both explain the downward sloping nature of a Market Demand Curve.
My PPT slides to explain the two main reasons a Market Demand Curve is DOWNWARD sloping.
Hope it helps someone out there who is confused about this topic. It is tested on the AP Microeconomics test so it is in your interest to learn it here OR somewhere!! :)
That website is HERE at Professor Dirk Mateer's youtube site.