The price of gasoline has increased from $2.00 per gallon to $3.00 per gallon. how would this price change be represented on the

Question

Ann [662]

1 year ago

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The price of gasoline has increased from $2.00 per gallon to $3.00 per gallon. how would this price change be represented on the

demand curve?

Mathematics

1 answer:

vladimir2022 [97] · Answer 1 · 2024-02-15T12:15:05+03:00

If the price of gasoline has increased from $2.00 per gallon to $3.00 per gallon. how would this price change be represented on the demand curve is: a movement from one point on the line to a higher point on the line.

<h3>What is demand curve?</h3>

Demand curve can be defined as the curve that show price of goods and services produced as well as the quantity demanded for the goods produce at a particular period of time.

The price change can be represented on the demand curve when price increase and this happen when the price of goods move from one point on a line to a higher point on the line

Therefore how would this price change be represented on the demand curve is: a movement from one point on the line to a higher point on the line.

Learn more about demand curve here:
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