At a price of $15 each,Marta buys 4 books per month.When the price increases to $20,Marta buys 3 books per month.Luz says that Marta's demand for books has decreased.Is Luz correct?
A) Yes,Luz is correct.
B) No,Luz is incorrect.Marta's demand has increased.
C) No,Luz is incorrect.Marta's quantity demanded has decreased,but her demand has stayed the same.
D) No,Luz is incorrect.Marta's quantity demanded has increased,but her demand has stayed the same.
E) No,Luz is incorrect.Marta's quantity demanded has decreased and her demand has increased.

Question

Quizplus · Accepted Answer

Demand refers to the entire relationship between price and quantity demanded, whereas quantity demanded refers to a specific quantity that an individual is willing and able to buy at a certain price. In this case, Marta's quantity demanded has decreased when the price increased, but this does not necessarily mean that her demand has decreased. Her behavior suggests that she still values books, but at a higher price point, she is willing and able to buy fewer of them. Thus, her demand has stayed the same, but her quantity demanded has decreased.

At a Price of $15 Each,Marta Buys 4 Books Per