Question

The rate of change of demand (x) of a commodity w.r.t. its price (y) is `dy/dx`.

Options

• True

• False

Answer 1

This statement is False.

Explanation:

• The rate of change of demand (x) with respect to price (y) is written as `dx/dy`, not `dy/dx`.
• `dy/dx` represents the rate of change of price with respect to demand, which is the reverse.