Last updated on June 13th, 2020 at 08:31 pm
Obtaining Demand Schedule:
To obtain the demand schedule the formula is,
Px $
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5
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4
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3
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2
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1
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Qdx
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1
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2
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3
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4
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5
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Fig. : Demand Schedule
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Obtaining The Demand Curve:
In that given graph figure, we have plotted all the pairs of value from the above given demand schedule. We have plotted various prices on the vertical axes and quantity demanded on the horizontal axes. dx is the required demand curve.
That can be indicated, such as, when the price is 5$ the demand is 1 unit, when the price is 4$ the demand is 2 unit etc. That’s how the demand increases with the decrease in price.