You are given the demand schedule for Netflix Subscription in the UAE as belowPrice (in AED)Quantity (in thousands)20100050750100550130500150450180300 Draw a curve representing the demand for watching Netflix in the UAEState the law of demand and show on the graph what will happen if Netflix reduces its subscription from AED 80 to AED 60. Will it be a movement or a shift? Why?

Demand curve shows the inverse relationship between price and quantity demanded. In the question, a…

Answered: You are given the demand schedule for…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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You are given the demand schedule for Netflix Subscription in the UAE as below

Price (in AED)	Quantity (in thousands)
20	1000
50	750
100	550
130	500
150	450
180	300

Draw a curve representing the demand for watching Netflix in the UAE
State the law of demand and show on the graph what will happen if Netflix reduces its subscription from AED 80 to AED 60. Will it be a movement or a shift? Why?

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