(A) Environment Effect
(B) Income Effect
(C) Substitute Effect
(D) Price Effect
Answer: (D) Price Effect
Demand curve shows how an individual reacts to change in price. Demand curve can be derived by adding sum of all individual consumer’s demand.
(A) Environment Effect
(B) Income Effect
(C) Substitute Effect
(D) Price Effect
Answer: (D) Price Effect
Demand curve shows how an individual reacts to change in price. Demand curve can be derived by adding sum of all individual consumer’s demand.