Answer:
The law of demand states that as the price of a good increases, the quantity demanded of that good decreases, ceteris paribus (all other things being equal). This means that there is an inverse relationship between the price of a good and the quantity demanded. In other words, when the price of a good increases, people are less willing and able to buy it, and when the price of a good decreases, people are more willing and able to buy it.
The relationship between the price of a good and the quantity demanded is often represented graphically using a demand curve, which shows the quantity of a good that consumers are willing and able to buy at different prices. The demand curve slopes downward from left to right, reflecting the inverse relationship between price and quantity demanded.
In the case of almonds, if the price of almonds were to increase, we would expect the quantity of almonds demanded to decrease, ceteris paribus. This is because consumers would be less willing and able to buy almonds at a higher price. Conversely, if the price of almonds were to decrease, we would expect the quantity of almonds demanded to increase, ceteris paribus, as consumers would be more willing and able to buy almonds at a lower price.
Your boss's marketing research project may involve collecting data on the prices and quantities of almonds sold in different markets, and using statistical techniques to analyze the relationship between price and quantity demanded.
Step-by-step explanation: