Tuesday, June 13, 2017

Example of Demand Schedule

Demand Schedule for Eggs before and after in
Increase in Demand
An Increase in Demands
Apart from its own price, there are various factors, which influence the demand for
a product. On a graph, the effect of these factors is shown in shifts in the demand curve. An increase in the level of demand is shown as an outward shift of the demand curve. The factors which can increase the demand are
·    An increase in the income
·    An increase in the wealth
·    An increase in the price of substitutes
·    A decrease in the price of complements
·    A change in the tastes and preferences in favor of the good
·    Expectations of a future increase in the price of good

Quantity demanded of eggs (dozen per week)
Price (Rs / Egg)
Old demand schedule
New demand schedule
2.00
1,000
2,000
1.75
2,000
3,000
1.50
3,000
4,000
1.25
4,000
5,000
1.00
5,000
6,000
0.75
6,000
7,000
0.50
7,000
8,000
0.25
8,000
9,000

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