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Question

11. A change in quantity demanded is represented by

Answer

In the context of economics, we often refer to movement along the demand curve. This occurs when the quantity demanded of a good or service changes as a result of a change in price. It is important to note that parameters such as consumer taste, income, and the prices of other goods remain constant. When the price of the good or service increases, the quantity demanded generally decreases due to consumer behavior. Conversely, a decrease in price generally leads to an increase in quantity demanded. This movement along the demand curve is an important concept to understand in analyzing market behavior.