A change in the quantity demanded of a product is the result of a change in

Name: A change in the quantity demanded of a product is the result of a change in
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A change in the quantity demanded of a product is directly caused by a change in its price. If the price increases, the quantity demanded decreases, and if the price decreases, the quantity demanded increases. Changes in other factors, such as consumer income or production costs, can affect demand in the long run but not in the short run.

A Change in the Quantity Demanded of a Product Is