Microeconomics
Microeconomics
11th Edition
ISBN: 9781260507140
Author: David C. Colander
Publisher: McGraw Hill Education
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Chapter 4.1, Problem 9Q
To determine

The effect of a shift factor on price and quantity in various markets.

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Q.6. a. The following data is available on the demand for groundnut oil in India: Year Price Index Quantity Demanded ( in  000 tons) 1971 105 200 1975 120 300 1980 140 600   The above data proves the law of demand wrong. Do you agree? Discuss.
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