A decrease in the price of a particular product will result in Question 7 options: a decrease in the demand for that product. a
shift in the production possibilities frontier. an increase in the quantity demanded of that product. an increase in the quantity supplied of that product.
In most cases, a demand curve is assumed to have a negative slope, so ...
... a decrease in the price will result in an increase in the quantity demanded of that product.
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There are exceptions: in certain markets, a low price is associated with cheap goods of unsuitable quality (or fashion), so quantity demanded goes down, rather than up.
