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Question
Create your own demand schedule for buying notebooks at different prices. At what price would you buy the most? At what price would you stop buying altogether? What could be the reason behind your choices?
Long Answer
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Solution
| Price Per Notebook | Quantity Demanded |
| ₹ 100 | 0 |
| ₹ 70 | 1 |
| ₹ 50 | 3 |
| ₹ 30 | 6 |
I would buy the maximum number of notebooks at ₹ 30 because they are affordable. I would stop buying at ₹ 100 because the price is too high. I will also compare the number of pages in each notebook. This shows that as the price falls, quantity demanded increases. The reason behind my choices is that as the price decreases, I am willing to buy more notebooks, and as the price increases, I buy fewer or none. This follows the HM of demand.
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