The data for demand curve D indicate that at a price of $0.30 per Greebe, buyers would be willing to buy __________ million Gree
1 answer:
Answer:
150
50
quantity demanded
quantity demanded
Explanation:
Please find attached the data needed to answer this question
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.
The demand schedule is a table that shows the relationship between price and quantity demanded of a consumer. It can be seen that the higher the price, the lower the quantity demanded. This is in line with the law of demand.
The demand curve is a curve that shows the relationship between price and quantity demanded. The demand curve is negatively sloped because the higher the price, the lower the quantity demanded. This is in line with the law of demand.
Only a change in the price of a good leads to a movement along the demand curve of that good. Also, only a change in the price of the good would lead to an increase or decrease in the quantity demanded of that good.
Other factors other than the change in the price of the good would lead to a shift of the demand curve. Some of those factors include :
1. a change in consumers' expectation
2. a change in the taste of consumers
3. a change in income
You might be interested in