Question

The cost of leather used to produce leather jackets falls by 30%. This will result in ________.
a. a decrease in demand.
b. an increase in the quantity demanded.
c. an increase in demand.

Answer 1

I believe the answer to your question is C

Answer 2

There are different kinds of cost. The above scenario will result in an increase in demand.

• A reduction in the price of leather jackets often makes more people to buy leather jackets, hence reducing the demand for sweatshirts.

If the price of a good is said to falls, the quantity supplied of that good also decreases. The lower the price, the more the demand for that product.

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