Question

1) Rightward shift in demand curve ..
2) Leftward shift in demand curve
3). Price remains .......
4) Increase and decrease in demand comes
under..........​

Answer 1

Answer:

1)When demand curve shifts right and supply curve to the left, the equilibrium price increases but the equilibrium quantity may increase, decrease or remain same, depending on the magnitude of shift in the two curves.

2) when there is a leftward shift of demand i.e., decrease in demand and supply being constant quantity demanded as well as price will reduce for that commodity.

3)For demand:

Number of buyers

Price of complements or substitutes

Customer tastes and preferences

Consumer income

If you come up with something that didn't fit into these categories, but is not P or Q, the result is still a shift! You probably just need your imagination to squeeze it into one of these 7 formal categories. For example, if the supply curve was P=2Q+3, and there was a decrease in the cost of inputs, the demand curve could shift to P=2Q+2. Note how the price levels are lower at every level of Q.Downward Shift in Supply.

4)The Change in Demand: Increase in Demand and Decrease in Demand, Microeconomics! Change in demand or shift in the demand curve occurs due to change in any of the factors that were assumed constant under the law of demand.

Answer 2

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