Figure 3.5
-Figure 3.5 illustrates a set of supply and demand curves for hamburgers. A decrease in demand and a decrease in quantity supplied are represented by a movement from

Question

Quizplus · Accepted Answer

A decrease in demand and a decrease in quantity supplied would be represented by a movement from a higher to a lower point on both the demand and supply curves, which is what happens when moving from point b to point c.

Figure 3.5 -Figure 3.5 Illustrates a Set of Supply and Demand Curves