Figure 4.4
-Figure 4.4 illustrates the demand for guitars.An increase in price of guitars would bring about a movement from:

Question

Quizplus · Accepted Answer

According to the Law of Demand, as price increases, quantity demanded decreases. Therefore, an increase in price of guitars would result in a movement along the demand curve, from point B to point A, where the quantity demanded is lower. Choices A, C, and D are incorrect because they do not accurately describe this movement.

Figure 4.4 -Figure 4.4 Illustrates the Demand for Guitars.An Increase in Price