A. Demand will go up.
The demand curve is inverse relationship between quantity demanded and the price of the product. Therefore, as the price of a product goes down, the demand will go up. This makes sense because, given a stable income, you can buy more of a product if the price is less, and people will want more of a product until they maximize their utility.
Answer:
Explanation:
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Answer:
I used an Excel spreadsheet to calculate R² which gives us the least squares trend. See attached image.
y = 360x + 1600
R² = 0,9529
next year's enrollment should be = (360 x 5) + 1600 = 3400
Answer:
quantity demanded equals quantity supplied
Explanation:
The market equilibrium is the price at which the quantity demanded and the quantity supplied cross each other. The intersection could be made by supply and demand curves.
Therefore, there is a direct relationship between the price and the quantity supplied, while the price and quantity demanded have an inverse relationship.
When the quantity demanded and the quantity supplied are intersect at the price so we called market equilibrium
