Business, 28.02.2020 20:47 Alexislol7908

Critically evaluate: "In comparing the two equilibrium positions in the diagram below, I note that a smaller amount is actually demanded at a lower price. This refutes the law of demand."A. A decrease in demand from D1 to D2 results in . B. This causes the price to . C. This change in price results in in quantity demanded along the D2 demand curve. D. This change in price results in in quantity supplied. E. The new equilibrium has a and a when compared to the original equilibrium. F. Does this refute the law of demand: . G. Why: (Because the new equilibrium has a lower price and quantity OR Because there was a change in demand).

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Critically evaluate: "In comparing the two equilibrium positions in the diagram below, I note that a...