Critically evaluate: "In comparing the two equilibrium positions in the diagram below, I note that a smaller amount is actually demanded at a lower price. This refutes the law of demand."A. A decrease in demand from D1 to D2 results in. B. This causes the price to. C. This change in price results in in quantity demanded along the D2 demand curve. D. This change in price results in in quantity supplied. E. The new equilibrium has a and a when compared to the original equilibrium. F. Does this refute the law of demand:. G. Why: (Because the new equilibrium has a lower price and quantity OR Because there was a change in demand).
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