Question

With the aid of a diagram show how demand shifts from left to right

Answer 1

Answer:

The Balance Shift of the demand curve to the right indicates an increase in demand at whatever price because a factor, such as consumer trend or taste, has risen for it. Conversely, a shift to the left displays a decrease in demand at whatever price because another factor, such as number of buyers, has slumped.

Answer 2

Explanation:

Elasticity of substitution is the elasticity of the ratio of two inputs to a production (or utility) function with respect to the ratio of their marginal products (or utilities).