Figure 4.4
-Figure 4.4 illustrates the demand for guitars.An increase in price of guitars would bring about a movement from

Question

Quizplus · Accepted Answer

According to the law of demand, when the price of a good increases, the quantity demanded will decrease. Therefore, an increase in the price of guitars will lead to a movement along the demand curve from point B to point A. Choices A, C, and D are not correct as they do not reflect the impact of a change in price on the demand curve, but rather show shifts in the curve due to other factors such as changes in income or consumer preferences.

Figure 4.4 -Figure 4.4 Illustrates the Demand for Guitars.An Increase in Price