Question

answer the two questions relating to demand and the law of demand. a. which can cause a shift in the demand curve? a change in the price of a good one of the determinants of demand the technology used by firms the cost of production which of the choices illustrates the law of demand? pat wants to buy more candy bars at $2 than at $1. wants to buy more candy bars at $1 than at $2. offers more candy bars for sale at $2 than at $1. none of the choices.

Answer 1

One thing that can cause a shift in the demand curve is a change in one of the determinants of demand.

The law of demand can be shown as Pat wants to buy more candy bars at $1 than at $2

What does the law of demand say?

The law of demand posits that people will demand more of a good when the price is lower as opposed to when it is higher. This is why Pat will want to buy more candy bars when the price is lower at $1 as opposed to $2.

The demand curve will shift when there is a change in one of the determinant of demand such as the income of people and the price of substitutes.

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