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Question
When the demand curve of a product shifts to the right, it represents a situation of ______.
Options
Increase in demand
Expansion in demand
Decrease in demand
Contraction in demand
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Solution
When the demand curve of a product shifts to the right, it represents a situation of increase in demand.
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The following table shows a change in the demand. Read the table carefully and answer the question that follows:
| Case I | Case II | ||
| Price (₹) | Quantity | Price (₹) | Quantity |
| 10 | 20 | 10 | 20 |
| 10 | 10 | 5 | 20 |
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