Question

Under what conditions Price of a good and its Demand are positively related?​

Answer 1

Explanation:

Substitutes are goods where you can consume one in place of the other. The prices of complementary or substitute goods also shift the demand curve. When the price of a good that complements a good decreases, then the quantity demanded of one increases and the demand for the other increases.

.In economic theory, price relates to demand in a function called the demand curve. The demand curve function assumes that the quantity consumers demand varies with price along a downward slope -- as prices increase, the consumer demand quantity falls. When prices decline, the consumer demand quantity increases.

Under what conditions a consumer would like to demand more at a given level of price? Price of substitute goods rises. Price of complementary goods falls. Income of a consumer rises in case of normal goods.

Answer 2

Answer:

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