WAEC - Economics (2024 - No. 11)
The diagram above shows the demand for milk. Use it to answer questions this question.
The movement from point x to z might have been caused by
a change in taste in favour of milk.
a decrease in price of milk.
an increase in income of consumers.
a favourable weather condition.
Explanation
B: Change along a demand curve can only be caused by change in the price of the commodity itself. Thus, the movement from x to z is caused by change (in this case, decrease) In the price of milk.
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