Refer to the graph above.If demand decreased:
A) quantity would stay the same and price would increase.
B) quantity would stay the same and price would decrease.
C) price would stay the same and quantity would decrease.
D) price would stay the same and quantity would increase.

Question

Refer to the graph above.If demand decreased:
A) quantity would stay the same and price would increase. 
B) quantity would stay the same and price would decrease. 
C) price would stay the same and quantity would decrease. 
D) price would stay the same and quantity would increase.

Quizplus · Accepted Answer

If demand decreased, there would be less demand for the product at the current price level. To maintain balance in the market, the price would need to decrease to encourage consumers to buy more, which would result in a decrease in quantity demanded. Therefore, price would stay the same and quantity would decrease.

Refer to the Graph Above.If Demand Decreased