(Figure: Graph) Use the graph to answer the following questions.
Here are 5 different options based on the graph above. These 5 options show movements from one point to another on the graph.
(i) Point M to Point N
(ii) Point W to Point V
(iii) Point Q to point T
(iv) Point W to point P
(v) Point N to point W
Now answer the following three questions:
(a) Which of the 5 options could be caused by a change in the price of the product?
(b) Which of the 5 options could be caused by a decrease in the price of the product?
(c) Which of the 5 options could be caused by an increase in the expected future price of the product?

Question

Quizplus · Accepted Answer

The Answer of (Figure: Graph) Use the graph to answer the following questions.
Here are 5 different options based on the graph above. These 5 options show movements from one point to another on the graph.
(i) Point M to Point N
(ii) Point W to Point V
(iii) Point Q to point T
(iv) Point W to point P
(v) Point N to point W
Now answer the following three questions:
(a) Which of the 5 options could be caused by a change in the price of the product?
(b) Which of the 5 options could be caused by a decrease in the price of the product?
(c) Which of the 5 options could be caused by an increase in the expected future price of the product?

(Figure: Graph) Use the Graph to Answer the Following Questions