Question

there is a new product launched by a mobile manufacturing unit .consumer like this brand vry much .how will it affect the demand curve of this new product? by using diagram...answer for 5 max
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Answer 1

Answer:

Here the demand of this product is being affected by tastes and preference. Since consumers are liking it, favourable shift in tastes will cause demand to rise and the demand to rise and the demand curve will shift to its right DD-

The curve shifts to right due to favourable shift in tastes and preferences.