oduct. Use a numerical table of price and demand to explain. at effect this increase in prices will have on consumers demand? Is it called a change in antity demand or change in demand? Why? aw and show this effect with the help of a demand curve. cel for drawing
oduct. Use a numerical table of price and demand to explain. at effect this increase in prices will have on consumers demand? Is it called a change in antity demand or change in demand? Why? aw and show this effect with the help of a demand curve. cel for drawing
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:LAW OF DEMAND
I choose Almarai company
Scenario 2:
a. If the company decides to earn more profits and hence decide to increase the price of their
product. Use a numerical table of price and demand to explain.
b. What effect this increase in prices will have on consumers demand? Is it called a change in
quantity demand or change in demand? Why?
c. Draw and show this effect with the help of a demand curve.
Using excel for drawing
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