Haan, the theory says demand curve slopes downward because when price falls, we feel richer — income effect — and switch from costlier goods — substitution effect. But for me, that ₹10 drop from ₹40 to ₹30 just means my sister’s monthly groceries are still too expensive, and I cannot substitute them. So maybe the curve slopes down only for those who have room to feel richer.
#money#career
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