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Makovka662 [10]
1 year ago
11

everyone's indiviaual demand for a particular good or service can be represented by the same demand curve

Mathematics
1 answer:
bija089 [108]1 year ago
5 0

The statement "everyone's individual demand for a particular good or service can be represented by the same demand curve " is false. Option B

This is further explained below.

<h3>What is the demand curve?</h3>

Generally, In the field of economics, a demand curve is a graph that illustrates the relationship between the price of a particular commodity and the quantity of that commodity that is demanded at that price. Specifically, the graph shows how the quantity of a commodity is affected by the price of the commodity.

Demand curves may be used to analyze the price-quantity connection for a single customer, or they can be used to analyze the relationship for all consumers in a certain market.

In conclusion, It is a fallacy to assert that "everyone's individual need for a given commodity or service can be represented by the same demand curve."

Read more about Demand curves

brainly.com/question/13131242

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Complete Question

Everyone's indiviaual demand for a particular good or service can be represented by the same demand curve

True or false

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<h2>Question: </h2>

A shopkeeper bought wheat for rs.35000. Due to leakage in the godown 1/7 of the total wheat was spoiled. He sold the good wheat at a gain of 10% and the spoiled when at a loss of 25%. Find his total gain or loss per cent.

Answer:

<h2>5%</h2>

<h2>step by step answer:</h2>

In the question we are given a shopkeeper or bought wheat for Rs. 35000. Now, due to leakage 17 of the total wheat is spoiled. Now, he sold the good wheat at 10% gain and the bad wheat at 25% loss. We need to find the total gain/loss percent.

According to the problem, the total cost of wheat is Rs. 35000.

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Hence, the cost price of spoiled wheat is Rs 5000.

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Hence, the cost price is Rs. 30000.

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Now the total selling price of the wheat is Rs.3750+Rs.30000=Rs.36750.

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profit %

=profitcost price×100%.

=175035000×100%.

=5%.

<h2>So, total profit is 5%.</h2>
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