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a) What is meant by the Market Demand for a prodcut? Does the market demand curve for a product always slope downward to the right. If your answer is yes, discuss. If your answer is no, discuss.

b) Is there a difference between a movement along a demand curve and the shift of the demand curve? If yes, explain. If no, explain.

c) Why managers are interested in the concept of consumer surplus? Discuss 

Microeconomics, Economics

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