When economists say the quantity demanded of a product has increased, they mean the demand curve has shifted to the left. demand curve has shifted to the right. O price of the product has fallen, and consequently, consumers are buying more of it. O price of the product has risen, and consequently, consumers are buying less of it.
When economists say the quantity demanded of a product has increased, they mean the demand curve has shifted to the left. demand curve has shifted to the right. O price of the product has fallen, and consequently, consumers are buying more of it. O price of the product has risen, and consequently, consumers are buying less of it.
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section: Chapter Questions
Problem 3QR
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