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- Dictionarycurve/kəːv/
noun
- 1. a line or outline which gradually deviates from being straight for some or all of its length: "the parapet wall sweeps down in a bold curve"
verb
- 1. form or cause to form a curve: "her mouth curved in a smile"
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Law of Demand and Demand Curve. Law of demand is defined as “quantity demand of product decreases if the price of the product increases.”. That is if the price of the product rises then the quantity demand falls. Because the opportunity cost of consumer increase which leads consumers to go for any other alternative or they may not buy it.
Cumulative Frequency Curve. A curve that represents the cumulative frequency distribution of grouped data on a graph is called a Cumulative Frequency Curve or an Ogive. Representing cumulative frequency data on a graph is the most efficient way to understand the data and derive results. Learn more about Frequency Polygon here.
The primary feature of a monopoly is a single seller and several buyers. Also, in a monopoly, there is no difference between the firm and the industry. This is because there is only one producer and/or seller. Therefore, the firm’s demand curve is the industry’s demand curve. Since there are several buyers, an individual buyer cannot affect ...
The oxygen dissociation curve is a graphical representation of the percentage of saturation of oxyhaemoglobin at various partial pressures of oxygen. In the lungs, the partial pressure of oxygen is high. Hence, haemoglobin binds to oxygen and forms oxyhaemoglobin. Tissues have a low oxygen concentration.
Answer: Movement of the demand curve happens when all other factors affecting the quantity demanded, remain constant and only the price changes. Hence, the demand moves upward or downward along the same curve. Therefore, the correct answer is option A. Previous. Elasticity of Demand.
6. At prices below and equal to Rs. 3, both consumers demand the good (here, bread). The red curve depicts the market demand, obtained by horizontally summing A and B’s consumption preferences at different prices. For example, A and B demand nothing at Rs. 6 so the demand curve starts from the vertical intercept where price equals 6.
Indifference Curve. It is a curve that shows the combination of goods which gives the same level of satisfaction to the consumers so that an individual is indifferent. In other words, the consumer gives equal preference to all such combinations. It is a graph that gives a consumer equal satisfaction, making the consumer indifferent.
Answer: Marginal Revenue is the amount of money received from the sale of an additional unit. The formula to calculate marginal revenue is: MR = TRn – TRn-1. Or. MR = ΔTR ΔQ. Where MR – Marginal Revenue, ΔTR – Change in the Total revenue, ΔQ – Change in the units sold, TRn – Total Revenue of n units, and TRn-1 – Total Revenue of ...
The isoquant curve crosses all three isocost lines on points R, M and T. These points show how much costs we will incur in producing 200 units. All three combinations produce the same output of 200 units, but the least costly for the producer will be point M, where isocost line GH is tangent to the isoquant curve.
Hooke’s Law. Hooke’s Law states that for small deformities, the stress and strain are proportional to each other. Thus, Stress ∝ Strain. Or, Stress = k × Strain … where k is the constant of proportionality and is the Modulus of Elasticity. It is important to note that Hooke’s Law is valid for most materials.
