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प्रश्न
If Coke and Fanta are close substitutes to each other, a rise in price of Coke will lead to ______ for Fanta.
विकल्प
Decrease in demand.
Increase in demand.
Increase in quantity supplied.
No change in demand.
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उत्तर
If Coke and Fanta are close substitutes to each other, a rise in price of Coke will lead to Increase in demand for Fanta.
Explanation: Since Fanta and Coke are close choices, any increase in Coke's price will result in a rise in Fanta's demand. This is a result of customers switching from coke to Fanta in terms of demand as the price of coke increases.
संबंधित प्रश्न
As a result of rise in consumer's income, the demand curve for coarse-grain (inferior good) will:
What does an upward movement along the same demand curve indicate?
Explain the following diagram:
Give two reasons for the shift of the demand curve towards the left.
Define contraction of demand (or decrease in quantity demanded).
What causes an upward movement along a demand curve?
What does a rightward shift of demand curve indicate?
With the help of a suitable diagram, explain expansion in demand.
Give two factors responsible for the shift of the demand curve to the right.
State whether the following statement is true or false. Give reasons.
A change in quantity demanded as a result of price change will imply a shift of the demand curve to the right.
