The table below provides data on opium sales and farmgate prices of opium in Afghanistan from 1994 to 2008.

-Refer to the table above.From 2007 to 2008,opium sales fell by roughly 6.1 percent and opium prices fell by 18.6 percent.If you are told that the supply curve of opium remained constant from 2007 to 2008,what was the likely change in opium demand?

Question

The table below provides data on opium sales and farmgate prices of opium in Afghanistan from 1994 to 2008.
 
-Refer to the table above.From 2007 to 2008,opium sales fell by roughly 6.1 percent and opium prices fell by 18.6 percent.If you are told that the supply curve of opium remained constant from 2007 to 2008,what was the likely change in opium demand?

Quizplus · Accepted Answer

If opium sales and prices both decrease while the supply curve remains constant, it implies a shift in the demand curve to the left, indicating a decrease in demand for opium.

The Table Below Provides Data on Opium Sales and Farmgate