Question 14 of 25 Map Sapling Learning macmillan learning Answer the following t

Question

Question 14 of 25 Map Sapling Learning macmillan learning Answer the following two questions relating to demand and the law of demand. A shift in the demand curve can be caused by O O O O a change in the price of a good. a change in one of the determinants of demand. a change in the technology used by firms. a change in the cost of production. Which of the following illustrates the law of demand? O O O O Joe wants to buy more candy bars at $2 than at $1 Sue wants to buy more candy bars at $1 than at $2. Kathy offers for sale more candy bars at $2 than at $1. None of the above.

Explanation / Answer

Question 1

A shift in the demand curve is caused by in one of the determinants of demand like change in price of related goods, change in income, change in tastes and preferences, change in the consumer population.

Question 2

Sue wants to buy more candies at $1 than at $2. The law of demand states the inverse relationship between price and quantity demanded other things remaining the same. If the price is higher, quantity demanded is lower other things remaining the same. Here Sue wants to buy more candies at $1 that $2, that means as the price goes down, quantity demanded is higher. This is the answer.

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.