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(Solution document) At a price of $12, Sam buys 10 units of a product; when the price increases to $16, Sam buys 8 units. Jennifer says Sam's demand has decreased. Is


At a price of $12, Sam buys 10 units of a product; when the price increases to $16, Sam buys 8 units. Jennifer says Sam's demand has decreased. Is Jennifer correct?

a. Yes, Jennifer is correct. Sam's demand has decreased.

b. No, Jennifer is incorrect. Sam's demand has increased.

c. No, Jennifer is incorrect. Sam's quantity demanded has decreased, and his demand has not changed.

d. No, Jennifer is incorrect. Sam's quantity demanded has increased, and his demand has increased.

 







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