Question

Q# 2. Differentiate between the following with diagrams.
i. Extension and rise in demand.
ü. Contraction and fall in demand.
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Answer 1

Answer:

ii) If the prise of tea is increase than this will result in less purchace of tea. here the only reason being the price will cause the variation (Fall) in demand. Contraction in demand is caused onely due to the prise factor