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First, the Compensated demand curve is also called the Hicksian demand curve. Basically, the Compensated demand curve determine the relationship how much of a product a person is welling to buy at any range, regardless of the income effect.
The Hicksian demand curve is the right way to determine how good or bad price changes are for the people they effect. The higher the price, the less you will buy, which is why the demand curve slopes downward.
Compensated demand curve shows the relationship between the price of a good and the quantity demanded of it assuming that the prices of other goods and our level of utility remain (constant).
Second, the ordinary demand curve or the marshallian demand curve - illustrate how much people will buy at a given price. Furthermore, the marshallian demand curve shows how individuals or companies will react to price changes. If the price of iron increase people or companies will still buy but in a low level, because people or companies will move to something cheaper like the aluminum. However, people will still buy more, because now people or companies will buy both iron and aluminum.
Moreover, marshallian demand curves simply show the relationship between the price of a good and the quantity demanded of it.
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