00:02
Hello, here i have to answer four questions.
00:07
Let's start with the first one.
00:11
Here is the price of guitars falls, but the quantity traded increased.
00:16
So price falls, quantity increased.
00:25
So let's show what happens.
00:27
Here we have the price quantity chart, and we have the demand curve and the supply curve.
00:35
And basically it means that the supply curve goes right words so in this case as you can notice the price goes down the quantity goes up so it means that demand or actually supply of course supply must have increased now let's move on to question b price and quantity traded of saxophones decreased price decreases and the quantity decreases so in this case, if you look at the chart, so that's a supply, that's the demand.
01:24
So here, price and quantity decrease, it means that the demand goes to the left.
01:34
So it means that demand must have decreased.
01:42
And now let's move on to question c...