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
|
For College level students also useful for University level student
Tuesday, June 13, 2017
Example of Demand Schedule
Subscribe to:
Post Comments (Atom)
TYPES OF MICRO ECONOMICS
The analysis of microeconomics is always affected by time period. But there are still some economists who do not believe the time value...
-
3. TYPES OF MICRO ECONOMICS The analysis of microeconomics is always affected by time period. But there are still some economists who do...
No comments:
Post a Comment