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Economics For Managers - Session 04

Economics For Managers - Session 04

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Published by Abimanyu NN
ECONOMICS FOR MANAGERS
ECONOMICS FOR MANAGERS

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Categories:Types, Business/Law
Published by: Abimanyu NN on Oct 18, 2011
Copyright:Attribution Non-commercial

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12/13/2013

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PSG INSTITUTE OF MANAGEMENTMBA 2011-13 BATCH - I TrimesterSession IV- For Batch C and D
22nd Aug 2011 1EFM Faculty P.Uday Shankar
 
Shifts in Demand Curve
The demand curve you drew on the 22
nd
Aug the curve indicatesthe level of demand of the product at various prices
ceteris paribus
.
Draw the same curve for the same parameters and contemplate what will happen to the Demand Curve if say INCOMEINCREASES.
Name the old Demand curve as D1 and the new one as D2.
There will be a SHIFT in the demand curve and this could happendue to any of the following reasons:
Rise in household income
Rise in price of substitutes
Fall in price of complements
Change in taste /preferences
Expected rise in the price of the product.
22nd Aug 2011 2EFM Faculty P.Uday Shankar
 
 The Demand Curve shifts to the right when income increases andshifts to the left when there is a decrease in income
 –
ceteris paribus
22nd Aug 2011 EFM Faculty P.Uday Shankar 3

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