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प्रश्न
When at a price of ₹ 5 per unit of a commodity, A's demand is for 11 units, B's demand is for 14 units and C's demand is for units (assuming that there are only three consumers in the market), the market demand is ______.
पर्याय
11 units
14 units
17 units
33 units
उत्तर
When at a price of ₹ 5 per unit of a commodity, A's demand is for 11 units, B's demand is for 14 units and C's demand is for units (assuming that there are only three consumers in the market), the market demand is 33 units.
Explanation:
The market demand is the total demand from all consumers in the market. In this case, you sum the demand from all three consumers:
- P's demand: 11 units
- B's demand: 14 units
- C's demand: 8 units (assuming this is what was intended to be mentioned as it was missing in the question)
Therefore, the total market demand is:
11 + 14 + 8 = 33 units.
संबंधित प्रश्न
Briefly explain any two reasons for the occurrence of the law of demand.
Complete the following statement:
Symbolically, the functional relationship between Demand and Price can be expressed as ______.
Find the odd word
Assumptions to law of demand -
The Law of Demand was introduced by ______.
State with reason whether you agree or disagree with the following statement.
There is an inverse relationship between price and demand.
The movement on or along the given demand curve is known as ______
Distinguish between extension and contraction of demand.
Explain the law of demand and its exceptions.
Write a statement of the Law of Demand.
State with reason whether you agree or disagree with the following statement :
When price of Giffen goods fall, the demand for it increases.
The following table shows the demand schedule for 3 consumers in a market.
| Price in (Rs) | Consumer 1 Demand in (kgs) | Consumer 2 Demand in (kgs) | Consumer 3 Demand in (kgs) | Market Demand |
| 10 | 1 | 2 | (i) ______ | 6 |
| 8 | 2 | (ii) ______ | 4 | 9 |
| 6 | 3 | 4 | 5 | 12 |
| 5 | 4 | 5 | 6 | (iii) ______ |
Based on the above hypothetical schedule answer the following questions.
- What is the demand of Consumer 3 priced at Rs 10 (i)
- What is the demand of Consumer 2 priced at Rs 8 (ii)
- Calculate the total market demand priced at Rs 4 (iii)
- From the above given table examine the relationship between price and demand.
- Mention any one exception to the law of demand.
Any statement about demand for a good is considered complete only when the following is/are mentioned in it:
If with the rise in price of good Y, demand for good X rises, the two goods are:
Giffen goods are richman's goods
If prices of cars rise, many people may put off buying a new car. So the demand for petrol will fall.
Pick the option which does not belong to the group:
What is meant by the income effect of a fall in the prices of a commodity?
