A decrease in quantity demanded because of an increase in price is represented by a

Question

Quizplus · Accepted Answer

A decrease in quantity demanded is represented by a movement up and to the left along the demand curve. This is because as the price increases, consumers are less willing and able to purchase the same quantity of a good or service. The demand curve itself does not shift, but rather shows the relationship between price and quantity demanded.

A Decrease in Quantity Demanded Because of an Increase in Price