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3 years ago

Which may occur as a result of a decrease in the price of laptop computers?

Business

1 answer:

Nimfa-mama [501]3 years ago

5 0

Answer:

Increase in quantity demanded

Explanation:

Demand for a product is the different quantities of that product that consumers are willing and ready to pay for at different prices.

There are many factors that affect the demand for a product; these include change in the price of the product, price of related products, change in consumer income, change in fashion, taste and style.

Change in quantity demand

Specifically, the law of demand states that there is an inverse relationship between quantity demand and its price. Change in quantity demand is a movement along the demand curve.

A change in the price of a product will produce an opposite change in the quantity that consumers are willing to buy assuming all other factors do not change. This is referred as to as change in quantity demand. This can either be an increase or a decrease depending on the direction of the price movement.

Change in demand

Change in demand is the shift in the demand curve to either right or left. This can be attributed to any of the factors that affect demand other the price e.g change in income.

Therefore a decrease in the price of laptop computers will lead to an increase in the quantity demanded .

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