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, an increase in price will lead to a decrease in the quantity demanded. Therefore, if the price of guitars increases, the demand curve shifts to the left (from D₁ to D₂), resulting in a movement from point B to point A on the demand curve.

Figure 4.4 -Figure 4.4 Illustrates the Demand for Guitars. an Increase in Increase