Answered: Which of the following best explains…

Which of the following best explains what happened? Price $3.00 $2.75 $2.50 $2.25 $2.00 $1.75 $1.50 $1.25 A D 0 10 20 30 40 B 50 60 Supply Demand Quantity

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

On the graph below, suppose the price moved from point B to point A.

Please answer correct option please

Don't answer by pen pepar

On the graph below, suppose the price moved from point B to point A.
Which of the following best explains what happened?
Price
$3.00
$2.75
$2.50
$2.25
$2.00
$1.75
$1.50
$1.25
A
D
0 10 20 30 40
B
50 60
Supply
Demand
Quantity

The price of the product decreased.
The demand increased.
O The demand decreased.
The price of the product increased.

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4REQUIREMENT : PRESENT THE GRAPH BY YOUR OWN WORDS
7.1