Answer to Question #137309 in Economics of Enterprise for Given

Question

Income is R120 and the price of popcorn irises from R30 to R60 and the price of smoothie remains R30
Derive the demand curve for popcorns

Answer 1

solution

if price of popcorn will increase then then demand of popcorn will decrease .demand curve for this condition can be drawn as

demand curve show that when price of popcorn was 30 then quantity demanded was Q1 and when price increased to 60 then quantity demanded decreased to Q2.