Do you agree with this statement: “As price goes up, demand goes down”?

Q: Law of demand states that price and the demand are positively related to each other is it right?

A: Demand is the willingness to buy backed by the purchasing power. The factors affecting demand are:…

Q: Which of the following best explains what happened? Price $3.00 $2.75 $2.50 $2.25 $2.00 $1.75 $1.50…

A: The demand curve represents the amount of a good demanded at different price levels. For a normal…

Q: What does the law of demand predicts, other things being equal

A: Law of demand was given by Alfred Marshall.

Q: Suppose that today the market for homes is in equilibrium. Tomorrow both the supply and demand…

A: Supply and demand curves for homes will shift to the right indicating an increase in demand and…

Q: What is the demand curve? Why does it slope downward?

A: Demand curve: It is the depiction of the locus of different quantity demanded of a good at different…

Q: Law of demand pretty much means that if price is high then the demand is low, and if price is low…

A: Demand shows the amount of goods and services a consumer is willing and able to buy at different…

Q: What would happen to the equilibrium price and quantity of a normal good if consumers incomes rises…

A: The demand is directly related to the income of consumer.  The normal goods are the goods in which…

Q: If demand shifts right AND supply shifts right, what happens to the equilibrium price and…

A: Demand is the quantity of a good or service that customers are willing and able to purchase at a…

Q: What happens to the equilibrium price and quantity if the supply curve shiftsright but the demand…

A: the equilibrium price and quantity is defined at the point where supply equals to demand. now, any…

Q: Which of the graphs above would best represent the scenario where there has been an increase in the…

A: Law of demand states that there is an inverse relationship between price and quantity demanded of a…

Q: Use the following graph: The graph below pertains to the supply of paper to colleges and…

A: * ANSWER :-  Based on the above information the answer is provided as below.

Q: how the equilibrium price and quantity change when a change in demand occurs and the supply stay…

A: A demand curve shows the relationship between the price and quantity demanded. A supply curve shows…

Q: Give an example of substitutes. What will happen to the demand for each of the price of one rises?

A: When talking about substitute goods, there are the products that cannot be consumed together as one…

Q: What will happen to the equilibrium price and quantity of cotton shirts if there is an increase in…

A: Price of cotton  is determined by the interaction of Demand and supply curve . When demand = supply…

Q: The law of demand states that

A: Demand: The demand for a commodity is the desire and the willingness for a commodity by a consumer…

Q: hoose: 1_The law of demand say that:

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: i am having trouble understanding how the law of demand works

A: As per the law of demand, there is an inverse relationship between the price and quantity demanded…

Q: define the law of supply and the law of demand?

A: Demand is the amount of an item or service that, ceteris paribus (all else being equal), customers…

Q: Explain how equilibrium price and equilibrium quantity will change in the following case demand for…

A: The quantity of a good that consumers are willing and able to buy at a specific price and for a…

Q: The price of peanut butter, a complement to jelly, decreases. How will this affect the equilibrium…

A: The demand and supply of any commodity is not onlu affected by its won price but also due to other…

Q: In the market of Product "K". Assume Product "K" is an inferior good. If consumers' income decrease,…

A: A kind of good whose demand decreases as income increases is known as an inferior good. In other…

Q: The price of peanut butter, a complement to jelly, decreases. How will this affect the equi price…

A: Demand shows inverse relationship between price and quantity demanded. It slopes downward. Supply…

Q: Explain how the market demand curve for a 'normal' good will shift (i.e. left, right or no shift) in…

A: A normal good explains a service or commodity whose demand is in direct relationship with the income…

Q: According to the "arrow chart" in the lesson video, if demand increases then the equilibrium price…

A: Price and quantity relationships are expressed by supply and demand curves. When supply and demand…

Q: Draw a diagram and show the shifts in demand and supply and indicate your new equilibrium price and…

A: Demand Curve: - demand curve is the graphical way of showing the relationship between the quantity…

Q: Consider the market for laptop bags. Suppose the price of laptops decreases. This change has what…

A: Complementary goods are products that are typically used together, such that a change in the price…

Q: What will be the effect of technology progress on equilibrium price?

A: # In the market, if there is a technological progress then this means that the suppliers would have…

Q: What is Supply demand?

A: The supply refers to the production done by the firms or manufacturers for earning revenue and…