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uantity demanded derived from an expenditure minimization problem is termed compensated demand. Graphically illustrate that the law of demand also applies to the compensated demand,

uantity demanded derived from an expenditure minimization problem is termed "compensated demand". Graphically illustrate that the law of demand also applies to the compensated demand, that is, optimal quantity demanded which minimizes the expenditure increases (decreases) when price of the good decreases (increases)

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