Quantity demanded is not only affected by price but by variables such as income and the prices of other goods.

Question

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Quantity demanded is influenced by multiple factors other than price, including but not limited to income and the prices of substitute and complementary goods. For example, if the price of one good increases, consumers may switch to a similar but less expensive product, affecting the demand for both goods. Change in consumer income can also impact quantity demanded, as people may choose to purchase more or less of a good based on their financial situation.

Quantity Demanded Is Not Only Affected by Price but by Variables