Figure 4-3

-Refer to Figure 4-3.The graph shows the demand for cigarettes.The arrows are consistent with which of the following events?

Question

Figure 4-3
 
-Refer to Figure 4-3.The graph shows the demand for cigarettes.The arrows are consistent with which of the following events?

Quizplus · Accepted Answer

The arrows show a decrease in demand when the price of cigarettes increases. This is consistent with the law of demand, which states that as the price of a good or service increases, the quantity demanded decreases. Therefore, the arrows are not consistent with choices A and B, and it cannot be determined if they are consistent with choice D without additional information.

Figure 4-3 -Refer to Figure 4-3.The Graph Shows the Demand for Cigarettes.The