Question

state the assumption under which the demand curve of a consumer is drawn?

Answer 1

Answer:

Assumptions under which law of demand is valid

No change in price of related commodities. No change in income of the consumer. No change in taste and preferences, customs, habit and fashion of the consumer. No expectation regarding future change in price.

Explanation:

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Answer 2

Answer:

Assumptions under which law of demand is valid

ons under which law of demand is validNo change in price of related commodities. No change in income of the consumer. No change in taste and preferences, customs, habit and fashion of the consumer. No expectation regarding future change in price.

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