Question

Write a short statement that expresses a possible function between the given variables.(price of a DVD player, demand for DVD player)

Answer 1

Answer:

When the price of DVD player increases, the demand will decrease.

Step-by-step explanation:

The price and demand function have an inverse relationship. When the price of good increases its demand will decrease. This is law of demand. If the price of goods increase to a certain level its demand will start decreasing. The people will start buying lesser good and will consume less. The propensity to consume will decline and less economic goods will be consumed. When the price of DVD player is increased then the demand will decline for DVD players and people will drop the decision to buy the DVD player.