::::IIVU ASKARII:::: ATTENT ALL MBA(2ND STUDENTS) >>>ECO 401

 

Dear Students of ECO401

In lecture 03 handouts, there is a typing mistake in the table given on page # 12.  The corrected table in lecture 03 handouts of ECO401 is as under:

 

FACTORS SHIFTING DEMAND CURVE:

 

Factors Changing Demand	Effect on Demand	Direction of Shift in Demand Curve	Effect on Equilibrium Price	Effect on Equilibrium Quantity
Increase in income (normal good)	Increase	Rightward	Increase	Increase
Decrease in income(normal good)	Decrease	Leftward	Decrease	Decrease
Increase in income (inferior good)	Decrease	Leftward	Decrease	Decrease
Decrease in income(inferior good)	Increase	Rightward	Increase	Increase
Increase in price of Substitute	Increase	Rightward	Increase	Increase
Decrease in price of substitute	Decrease	Leftward	Decrease	Decrease
Increase in price of complement	Decrease	Leftward	Decrease	Decrease
Decrease in price of complement	Increase	Rightward	Increase	Increase
Increase in taste and preference for good	Increase	Rightward	Increase	Increase
Decrease in taste and preference for good	Decrease	Leftward	Decrease	Decrease
Increase in number of consumers	Increase	Rightward	Increase	Increase
Decrease in number of consumers	Decrease	Leftward	Decrease	Decrease

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            ●●Gяєу_Fєяяy ●●
Mo00∂y _∂oll

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