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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.
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 ...
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.
In such a case, the smooth curve enveloping all these short-run average cost curves is a long run average cost curve. As you can see in the figure above, the long run average cost curve is drawn tangential to all SACs. In other words, every point on the long run average cost curve is a tangent point on some SAC. Hence, whenever a firm desires ...
In the case of movement of the demand curve, it: 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.
The TP curve first increases at an increasing rate, after which it continues to increase but at a decreasing rate, giving the curve an S-shape. This trend continues till TP reaches its maximum. Here, MP =0. After the maximum, TP starts to fall or it declines. The MP curve also initially increases, reaches its maximum and then declines. Note ...
Definition of Area Under Curves. The area A under the curve f (x) bounded by x = a and x = b is given by: A = ∫b a f(x)dx. If the area between two bounding values of x on the graph, lies above the x-axis; its sign is taken to be positive. If the area between two bounding values of x on the graph, lies below the x-axis; its sign is taken to be ...
Whereas, an indifference curve is a graphical representation of all the combinations of goods and services among which the consumer is indifferent. Further, we cannot quantify the level of satisfaction of a consumer on an indifference curve. On the other hand, quantification of a producer’s level of output is pretty much possible on an iso ...
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.
Hooke’s Law and Stress-strain Curve; The point B in the curve is the Yield Point or the elastic limit and the corresponding stress is the Yield Strength (S y) of the material. Once the load is increased further, the stress starting exceeding the Yield Strength. This means that the strain increases rapidly even for a small change in the stress.
