Referring to Figure 3-2, we see that A change from Point A to Point B represents a: C. decrease in quantity demanded.
What is a decrease in quantity demanded?
A decrease in quantity demanded means that the consumers are willing to purchase less of a good or service at a given price. This is represented with the aid of a demand curve. In the graph, we see that the quantity demanded is described by a shifting of the demand curve to the left.
This demand curve showcases the relationship between the price of a good or service and the quantity demanded. So, from the figure, we would see that the position of the demand curve indicates a decrease in the quantity demanded.