Figure 4-9

-Refer to Figure 4-9.The graphs show the demand for cigarettes.In Panel (a),the arrows are consistent with which of the following events?

Question

Figure 4-9

-Refer to Figure 4-9.The graphs show the demand for cigarettes.In Panel (a),the arrows are consistent with which of the following events?

Quizplus · Accepted Answer

The arrows in Panel (a) show an increase in demand for cigarettes in response to a price increase, indicating that consumers are willing to buy more cigarettes even at a higher price. This is consistent with the law of demand, which states that as the price of a product increases, the quantity demanded decreases, and vice versa. Therefore, the best choice is C, as the other options are not supported by the graph.

Figure 4-9 -Refer to Figure 4-9.The Graphs Show the Demand for Cigarettes.In