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Explain the effect of following changes …

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Explain the effect of following changes on the demand of a commodity a) if the price of coffee increases what happens to tea' s demand. b)Rise in the income of buyer, if the commodity is inferior.

Posted by Mohamed Ali Jinna 7 years, 1 month ago

CBSE > Class 11 > Economics

1 answers

Chesta Pawan Manchanda 7 years, 1 month ago

A) if the price of coffee increase then demand for tea will be increase as they are substitute goods. B) if the commodity is inferior then there is inverese or negative relationship between income and demand which means after increasing income the demand of the inferior commodity will decrease .

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