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Question
All except one of the following are assumed to remain same while drawing an individual’s demand curve for a product. Which one is it?
Options
Tastes and Preferences of the individual
Monetary income
Price of the given product
Price of related goods
MCQ
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Solution
Price of the given product
Explanation:
A demand curve shows the relation between the product’s own price and quantity demanded, so its price varies. Preferences, income and related-good prices are held constant.
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