3 Products (gasoline, farmer crops, t-shirt) You will choose one of the products. Answer one of...

 

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3 Products (gasoline, farmer crops, t-shirt) You will choose one of the products. Answer one of the following questions based off the product you have chosen. 1. What could lead to an increase in demand for this product? If demand increases, which direction does the demand line move (left or right)? If demand increases, what happens to price (increase or decrease) and quantity (increase or decrease)? 2. What could lead to a decrease in demand for this product? If demand decreases, which direction does the demand line move (left or right)? If demand decreases, what happens to price (increase or decrease) and quantity (increase or decrease)? 3 Products (gasoline, farmer crops, t-shirt) You will choose one of the products. Answer one of the following questions based off the product you have chosen. 1. What could lead to an increase in demand for this product? If demand increases, which direction does the demand line move (left or right)? If demand increases, what happens to price (increase or decrease) and quantity (increase or decrease)? 2. What could lead to a decrease in demand for this product? If demand decreases, which direction does the demand line move (left or right)? If demand decreases, what happens to price (increase or decrease) and quantity (increase or decrease)?

Answer rating: 100% (QA)

Lets assume we have chosen gasoline as the product to answer the question 1 What could lead to an increase in demand for gasoline If demand increases ... View the full answer