Request a call back

Join NOW to get access to exclusive study material for best results

CBSE Class 12-commerce Answered

Calculate an imaginary demand schedule for an individual consumer which is paradoxical to the law of demand.
Asked by Topperlearning User | 25 Apr, 2016, 09:33: AM
answered-by-expert Expert Answer

According to the law of demand, other things being equal, the demand for good increases with a fall in price and the demand diminish with a rise in price. But if there is appositive correlation between price and quantity demanded, then it is paradoxical to the law of demand. The following demand schedule represents this situation:

Price

Individual demand

4

18

6

20

9

26

15

30

 

Answered by | 25 Apr, 2016, 11:33: AM
CBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 09:33: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 09:33: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 09:33: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 10:00: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 09:33: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 09:33: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 09:33: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 09:33: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 12-commerce - Microeconomics
Asked by Topperlearning User | 25 Apr, 2016, 09:43: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
Get Latest Study Material for Academic year 24-25 Click here
×