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Question
Microeconomics
Posted 8 months ago

According to the law of demand, what happens when the price of a robotic sandwich stuffer decreases?

Choose 1 answer:
(A) The demand for the stuffing used by sandwich stuffers decreases
(B) The quantity supplied of robotic sandwich stuffers increases
(C) The demand for robotic sandwich stuffers decreases
(D) The quantity demanded of robotic sandwich stuffers increases.
(E) The supply of robotic sandwich stuffers decreases
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Answer from Sia
Posted 8 months ago
Solution
a
Law of Demand: The law of demand states that, all else being equal, as the price of a good decreases, the quantity demanded of that good increases
b
Application to Robotic Sandwich Stuffers: When the price of robotic sandwich stuffers decreases, consumers are more likely to purchase them, leading to an increase in the quantity demanded
c
Elimination of Incorrect Options: - (A) The demand for the stuffing used by sandwich stuffers is not directly affected by the price of the sandwich stuffers. - (B) The quantity supplied of robotic sandwich stuffers is related to the supply side, not demand. - (C) The demand for robotic sandwich stuffers would not decrease with a price drop; it would either increase or stay the same. - (E) The supply of robotic sandwich stuffers is not directly affected by the price change in this context
Answer
(D) The quantity demanded of robotic sandwich stuffers increases
Key Concept
Law of Demand
Explanation
According to the law of demand, when the price of a good decreases, the quantity demanded for that good increases. In this case, a decrease in the price of robotic sandwich stuffers leads to an increase in the quantity demanded.

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