Question

You notice that the price of Blu-ray players falls and the quantity of Blu-ray players sold increases. You suspect that _____ Blu-ray players shifts to the _____. demand for; left supply of; left demand for; right supply of; right

Answer 1

Answer:

supply of; right

Explanation:

When the supply curve shifts rightward, there would be a rightward shift of the supply curve. As a result of the rightward shift, supply would increase and the price falls.

When the price of a good falls, the quantity demanded increases. This is in line with the law of demand.

According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

Thus, when the price of blue ray players fall, there would be an increase in the quantity of demanded. there would a movement down along the demand curve.