Question: 1. Explain the law of demand. Why does a demand curve slope downward? What are the determinants of demand? What happens to the demand curve

1. Explain the law of demand. Why does a demand curve slope downward? What are the determinants of demand? What happens to the demand curve when each of these determinants changes? Distinguish between a change in demand and a change in the quantity demanded, noting the cause(s) of each.

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