Question

If a business owner wants to increase demand for quantity, then the business owner should

Answer 1

If a business owner wants to increase demand for quantity, then the business owner should lower the price of the product. This lowering of price will attract more people to go for the product and this will increase the demand for quantity in the market. I hope the answer comes to your help.

Answer 2

The correct answer is: DECREASE THE PRICE CHARGED FOR THE PRODUCT.

The demand function is a downward-sloping curve that puts in relation the price charged for a product with the quantity demanded by consumers.

The law of demand states that, for a normal good, there is an inverse relationship between the two variables previously mentioned: the larger the price of a product, the smaller the quantity that consumers are willing to purchase and viceversa. Therefore, if the business owner aims to trigger a demand increase, he has to decrease the price he charges for the product or service, so that more consumers would be able to afford the good and willing to acquire it in the markets.