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The bookstore is overstocked with old fantasy novels. It needs to get rid of the novels to make room for newly published fantasy novels. Based on the chart, what could the bookstore do to increase quantity demanded for fantasy novels?

The bookstore is overstocked with old fantasy novels. It needs to get rid of the novels-example-1
User Gameover
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2 Answers

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Reduce the price of the fantasy novels
User Shashi K Kalia
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7 votes

Answer:

Lower prices

Step-by-step explanation:

The chart shows that there is an inverse relationship between price and quantity sold. At the price of $ 50, only 5 quantities are sold, but at the price of $ 10, 60 books are sold. This shows that the demand for books is price sensitive. This is also easily observed by the decreasing curve line in the price x quantity chart. Thus, the recommendation for this bookstore to reduce its stock of fantasy books is to decrease the price.

User Saurabh Suman
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