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Sir how option d is correct for this question I thought it would be option b?? Why I'm wrong
Answers (12)
Sriram Somayajula Admin
Please go through the concepts outlining diff between increase in qty demanded & increase in demand and also increase in qty supplied and increase in supply
Sir why there is increase in quantity demanded ?? As supply is increasing because shift in consumer preference not because of price right??so there should be increase in supply not increase in quantity supply
Abhishek Verma
Because there is only demand curve shift towards right not supply curve. So demand increases and price also increases... but the supply increases due to increase in price , not due to others factors. so there is increase in quantity supplied not supply
Here increase in supply is due to change in consumer preference not due to price so I am saying it as increase in demand and supply
Thread Starter
Sri kanaga VarshiniHere increase in supply is due to change in consumer preference not due to price so I am saying it as increase in demand and supply
Due to change in consumer preferance only demand increases not supply ..
Abhishek Verma
See
So it means due to rise in demand, price increase and supply increase so it is increase in quantity supplied am I right?
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