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1 June, 03:32

There is an increase in the price of carry cases for portable power banks. A. decrease in demand. B. decrease in quantity demanded. C. increase in demand. D. increase in quantity demanded.

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  1. 1 June, 05:23
    0
    The correct answer is letter "B": decrease in quantity demanded.

    Explanation:

    By demand law, an increase in the price of a good or service represents a decrease in its quantity demanded. The decrease in the price of a good or service is interpreted as the increase in its quantity demanded. Price and quantity demanded to have an inversely proportional relationship.
  2. 1 June, 06:49
    0
    Decrease in quantity demanded

    Explanation:

    The law of demand states that all other factors being constant, increase in price is inversely related to quantity demanded. This means that the quantity of goods ordered are dependent on price. People buy more when price is reduced and less when price increases.

    Demand can either be elastic or inelastic.

    Elastic demand occurs when a change in price leads to a wide change in demand while inelastic demand is when the effect of price change on demand is marginal.
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