It should be noted that demand is an economic principle that refers to a consumer's desire to purchase goods and willingness to pay a price.
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What is a demand?</h3>
Your information is incomplete. Therefore, an overview of demand will be given. It should be noted that what a buyer pays for a unit of the specific good or service is the price while the total number of units purchased at that price is the quantity demanded.
Based on the information given, you can use the demand formula, Qd = x + yP, to find a demand line where Qd represents the number of goods demanded, x represents the quantity and P represents the price.
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1)d. The quantity of a product that consumers are willing and able to buy at each unit price
2)C. The product has a lower price
3)c. The quantity demanded for chips will decrease and the demand for salsa will decrease.
4)I didn't understand your question about this one but I can explain the graph:-)
according to this diagram
the supply curve has shifted backward i.e supply is decreased so, with the decrease in supply the price of good increases and as a result of increased price the quantity demanded decreased.
5)B. Average consumer income has decreased, with Good A being an inferior good. ( because as you can see in the diagram that demand for good A is increased)
demand for inferior goods increases with the decrease in income. For example: if your income decreases you'll start travelling from bus instead of train.
6)B. Stacy wanted ice cream a bit more than a cupcake but chose the cupcake when the price of ice cream increased.
Answer: Don't know sorry
Explanation: Have a nice day :)
X=0 i think. I just put it in the calculator
