Given the price of a good, how will a consumer decide as to how much quantity to buy of that good? Explain.

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Solution

Quantitiy of good purchased wil depend on the following factors:
1) Normal good
2) Change in preference
3) Complimentary goods
4) Substitute goods
5) Market size
6) Price expectations

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Given the price of a good, how will a consumer decide as to how much quantity to buy of that good? Explain.

Quantitiy of good purchased wil depend on the following factors: 1) Normal good2) Change in preference3) Complimentary goods4) Substitute goods5) Market size6) Price expectations

Quantitiy of good purchased wil depend on the following factors:
1) Normal good
2) Change in preference
3) Complimentary goods
4) Substitute goods
5) Market size
6) Price expectations