4. Which of following factor influence the demand?
a. Price of commodity
b. Income of customer
c. Taste of customer
O d. All the above
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Answer:
d. All the above
Explanation:
The factors of demand can understood from the following equation.
Dx = f ( Px, M, T, Pl, t, Pr)
Where,
Dx = Demand of Good x
Px = Price of Good X
M = Money Income of the customer
t = Time
f = Functional Relationship
T = Taste and Preference of the customer
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