Question

Demand and supply curves of
chocolate intersect at price of
Rs30. Price of a chocolate is Rs
35
inside the premises of a school. This
will lead to​

Answer 1

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Answer 2

Answer:

This will lead to decrease in the demand of chocolate.

Explanation:

In this question, we have to determine the effect of the increase in the price of chocolate. In the question, it is given that the demand and supply curves intersect for 30. This means that when the price of the chocolate is 30 the demand and the supply of the chocolate are equal. But the increase in the price of chocolate on the school premises will lead to a decrease in the demand for the product and an increase in the supply of the chocolate. This is due to the increase in the price. When the price of goods increases it also increases the supply of goods but it decreases the demand for goods.

Hence, the demand for chocolate decreases.

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