CBSE (Arts) Class 12CBSE
Share
Notifications

View all notifications

Explain the Effect of Change in Own Price - CBSE (Arts) Class 12 - Economics

Login
Create free account


      Forgot password?

Question

Explain the effect of Change in own price

Solution

Effect of change in own price: Assume that other things remaining constant, if the price of a good increases, there will be a decrease in the quantity demanded and vice versa. So, there is a negative relationship between the price of a good and its quantity demanded.

  Is there an error in this question or solution?

APPEARS IN

Solution Explain the Effect of Change in Own Price Concept: Effects of Shifts in Demand and Supply.
S
View in app×