0. Giving valid reasons, state whether the following statements are true or false :
(a) An increase in the income of a consumer would lead to an increase in
demand for all types of goods demanded by him.
(b) If percentage change in quantity demanded is equal to percentage change in
price, the demand curve will be a straight line parallel to y-axis.
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Answer:b. False. The quantity of a commodity demanded by a consumer is influenced by the ... True b. False. An increase in price of a commodity will generally lead to a ... If an increase in the price of one commodity leads to an increase in demand ... If a decrease in income causes an individual's demand curve for a good to shift to ...
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