Question

If the price of an amusement park ticket falls from $60 to $20, while all other influences on buying plans are unchanged, the quantity of amusement park tickets demanded O A increases OB. does not change OC. decreases If the price of an amusement park tickettalls rom Scoto $20, while all other influences on buying plans are unchanged, the quantity of amusement park tickets demanded changes from to O A. 6 million, 5 million B. 8 million; 4 million c. 4 million 8 million D. 5 million 6 million O

Answer 1

The following given curve is a demand curve

It shows a relationship between price and quantity demanded and follows law of demand

Law of demand states in ceteris paribus price and quantity demanded are inversely related

1.

Here we can see that the price Falls from $60 to $20 so quantity demanded will increase

Answer is option A

2. When price Falls from $60 to $20 then from the law of demand the quantity demanded will increase

From the given curve, it is increasing from 4 million 8 million dollars

Answer is option C

3.

True

The given curve follows the law of demand as described above

The curve shows the inverse relationship between price and quantity demanded