When the price of almonds falls

Name: When the price of almonds falls
Brand: Quizplus
Rating: 4.9 (45 reviews)

Question

Quizplus · Accepted Answer

When the price of almonds falls, the quantity of almonds demanded increases ceteris paribus due to the law of demand. As the price decreases, consumers are willing and able to purchase more almonds at the new lower price. However, this change in price does not necessarily affect the overall demand for almonds, which is determined by various factors such as income, tastes and preferences, and availability of substitutes.

When the Price of Almonds Falls