At a price of $5, Tyrone buys 10 units of a product; when the price increases to $6, Tyrone buys 8 units. Which of the following is correct about Tyrone's behavior?
A) Tyrone's demand has decreased.
B) Tyrone's demand has increased.
C) Tyrone's quantity demanded has decreased, and his demand has not changed.
D) Tyrone's quantity demanded has increased, and his demand has increased.
E) Tyrone's demand has increased, and his quantity demanded has decreased.

Question

Quizplus · Accepted Answer

Tyrone's quantity demanded has decreased from 10 units to 8 units due to the price increase from $5 to $6. However, his demand curve has not shifted; only the quantity demanded has changed along the demand curve.

At a Price of $5, Tyrone Buys 10 Units of a Product;