Advertisements
Advertisements
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.
Advertisements
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
What is meant by the contraction in demand?
As a result of rise in consumer's income, the demand curve for coarse-grain (inferior good) will:
With the help of a graph explain the increase in demand concept.
What does a downward movement along the same demand curve indicate?
What is an expansion of demand?
Explain the following diagram:
Give two reasons for the shift of the demand curve towards the left.
Distinguish between “movement along the demand curve” and shift of a demand curve.
What is meant by an increase in demand?
What does a rightward shift of demand curve indicate?
