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प्रश्न
Explain the following diagram.
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उत्तर
- In the diagram, the demand curve shifts to the right from DD to D1D1.
- It shows the situation of increase in demand.
- A larger quantity (OQ1) instead of OQ0 is demanded at the same price of OP.
- Same quantity OQ0 is demanded at a higher price of OP1.
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संबंधित प्रश्न
If Coke and Fanta are close substitutes to each other, a rise in price of Coke will lead to ______ for Fanta.
Differentiate between extension and contraction of demand.
What does a downward movement along the same demand curve indicate?
When the demand curve of a product shifts to the right, it represents a situation of ______.
Define decrease in demand.
Define contraction of demand (or decrease in quantity demanded).
What causes a downward movement along a demand curve?
The following table shows a change in the demand. Read the table carefully and answer the question that follows:
| Case I | Case II | ||
| Price (₹) | Quantity | Price (₹) | Quantity |
| 10 | 20 | 10 | 20 |
| 10 | 10 | 5 | 20 |
What type of change is it, decrease in demand or contraction in demand? Give a reason.
With the help of a suitable diagram, explain expansion in demand.
State whether the following statement is true or false. Give reasons.
An increase in the demand for a commodity is due to a fall in its price.
