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…

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter3: Market Demand And Supply

Section: Chapter Questions

Problem 2SQP

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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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