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Law of demand

24 bytes added, 17:01, 18 February 2012
Causation versus correlation: superfical counterexamples
==Causation versus correlation: superfical counterexamples==
It is important to understand that the law of demand discusses the effect of a change in price on the demand quantity demanded for the good. Thus, it does not predict that an increase in price is always accompanied by a decrease in demandquantity demanded. Rather, it says that, [[ceteris paribus]], an increase in price is responsible for a decrease in demanddemanded.
===Independent shifts of the demand curve===
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