JAMB - Economics (2022 - No. 50)
An exceptional demand curve can result from
increase in price of raw materials
increase in the size of the population
expectation of future price increase
change in taste of consumer
Explanation
Exceptional or Abnormal demand curve does not abide to the law of demand and it give reverse to the law of demand, which states that " At higher price, more quantity will be demanded and vice-versa" .Therefore, rise as a result of future expectation rise in price, war, consumer ignorance etc are the causes of abnornal demand curve.
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