Draw a demand curve for textbooks (class 11, microeconomics)
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The upward movement in the demand is also known as contraction of demand. Contraction of demand refers to fall in demand of a commodity due to rise in it's price.
Look at the graph.With rise in price from P1 toP2,the quantity demanded falls from Q1to Q2. This is shown as contraction in quantity demanded due to rise in price.
Look at the graph.With rise in price from P1 toP2,the quantity demanded falls from Q1to Q2. This is shown as contraction in quantity demanded due to rise in price.
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