Advertisements
Advertisements
प्रश्न
When at a price of ₹ 5 per unit of a commodity, A’s demand is for 11 units, B’s demand is for 14 units and C’s demand is for 8 units (assuming that there are only three consumers in the market), the market demand is ______.
विकल्प
11 units
14 units
17 units
33 units
Advertisements
उत्तर
When at a price of ₹ 5 per unit of a commodity, A’s demand is for 11 units, B’s demand is for 14 units and C’s demand is for 8 units (assuming that there are only three consumers in the market), the market demand is 33 units.
Explanation:
The market demand is the total demand from all consumers in the market. In this case, you sum the demand from all three consumers:
- P’s demand: 11 units
- B’s demand: 14 units
- C’s demand: 8 units (assuming this is what was intended to be mentioned, as it was missing in the question)
Therefore, the total market demand is:
11 + 14 + 8 = 33 units.
संबंधित प्रश्न
Briefly explain any two reasons for the occurrence of the law of demand.
Find the odd word
Assumptions to law of demand -
The Law of Demand was introduced by ______.
State with reason whether you agree or disagree with the following statement.
There is an inverse relationship between price and demand.
Increase in demand is caused by
In case of relatively more elastic demand, the shape of the curve is
Explain the law of demand.
Write a statement of the Law of Demand.
State and explain the law of demand with the help of a hypothetical schedule and graph.
The following table shows the demand schedule for 3 consumers in a market.
| Price in (Rs) | Consumer 1 Demand in (kgs) | Consumer 2 Demand in (kgs) | Consumer 3 Demand in (kgs) | Market Demand |
| 10 | 1 | 2 | (i) ______ | 6 |
| 8 | 2 | (ii) ______ | 4 | 9 |
| 6 | 3 | 4 | 5 | 12 |
| 4 | 4 | 5 | 6 | (iii) ______ |
Based on the above hypothetical schedule answer the following questions.
- What is the demand of Consumer 3 priced at Rs 10 (i)?
- What is the demand of Consumer 2 priced at Rs 8 (ii)?
- Calculate the total market demand priced at Rs 4 (iii).
- From the above given table examine the relationship between price and demand.
- Mention any one exception to the law of demand.
Giffen goods are richman's goods
If prices of cars rise, many people may put off buying a new car. So the demand for petrol will fall.
If a good is inferior good, then purchases of that good will decrease when ______.
Identify the correct statement from the following alternatives:
Which formula correctly expresses the factors that determine the demand for a commodity?
Why does the demand curve always slope downwards?
