which factor is responsible for the movement along a demand curve?
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Answer:
Therefore, a movement along the demand curve will occur when the price of the good changes and the quantity demanded changes in accordance to the original demand relationship. In other words, a movement occurs when a change in the quantity demanded is caused only by a change in price, and vice versa.
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Answer:
A change in price of the good is responsible for movement along the demand curve
Explanation:
- A shift in the price of an item or service does not modify the demand curve; rather, it causes movement along a particular demand curve and often results in some change in the amount sought.
- When a demand curve changes, it will cross over a particular supply curve at a new equilibrium quantity and price.
- Demand declines when price rises and decreases in quantity needed (but demand itself stays the same). Quantity demanded rises when the price declines. The Law of Demand is this. An inverse connection is shown on a graph as a line that slopes downhill from left to right.
To learn more about the topic:
What is demand?
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What is demand function?
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