Advertisements
Advertisements
Question
There are train and bus services between New Delhi and Jaipur. Suppose the train fare between the two cities comes down. How will this affect the demand curve for bus travel between the two cities?
Advertisements
Solution
A fall in train prices will cause the demand curve for the bus travel between the two cities to move leftward.
APPEARS IN
RELATED QUESTIONS
What is meant by an increase in demand?
Differentiate between extension and contraction of demand.
What does a downward movement along the same demand curve indicate?
What does an upward movement along the same demand curve indicate?
When the demand curve of a product shifts to the right, it represents a situation of ______.
What is an expansion of demand?
Define decrease in demand.
Explain the following diagram:
What is meant by an increase in demand?
What does a rightward shift of demand curve indicate?
