17 Jul Manfred says that it makes sense that demand increases when the price decreases because Dr. Peterson taught us the law of demand. Is Manfred correct?
While studying with a classmate, Manfred, for Exam 1 in ECO 315, Manfred claims the price of lumber decreased recently causing people to buy more lumber. Manfred says that it makes sense that demand increases when the price decreases because Dr. Peterson taught us the law
of demand. Is Manfred correct? Why or why not?
Yes. This is one of the basic principles of economics, demand increases when price decreases.
Yes. Manfred must be correct since he used words that sound like economic terms.
No. This is a complete misunderstanding because the law of demand does not state that the demand curve shifts when price changes.
No. While Manfred is correct the law of demand states that demand increases when price decreases, he is wrong that lumber prices decreased.
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Wridemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.