Explain demand for the sedans slopes upward to right


When the price of a top-of-the-line luxury sedan was $85,000 there were 6,184 sold. Several years later when the price was $116,000, although the cars were basically unchanged, there were 9,462 sold. Does this mean that the demand for these sedans slopes upward to the right (i.e., that it is positively sloped in two-dimensional space)? Carefully explain.

Request for Solution File

Ask an Expert for Answer!!
Microeconomics: Explain demand for the sedans slopes upward to right
Reference No:- TGS0513098

Expected delivery within 24 Hours