a. During the Christmas holiday season, the price of Christmas trees increases and the quantity demanded for trees also increases. Does it reflect
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a. During the Christmas holiday season, the price of Christmas trees increases and the

quantity demanded for trees also increases. Does it reflect change in quantity demanded or change in demand? Support your answer with the use of a diagram. Label your diagram with appropriate variables on X axis and Y axis.


b. Identify and explain any two factors causing an increase in supply. Support your answer with the use of a diagram. Label your diagram with appropriate variables on X axis and Y axis. Identify and explain the factor affecting quantity supplied.

Top Answer

a) According to the law of demand, other factors being same, as the price of a goods increases, quantity demanded decreases;... View the full answer

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