Answer:
Decrease - research shows that olive oil consumption leads to hair loss &
a decrease in the price of other vegetable oil
Increase - a popular new diet prescribes only olive oil for weight loss &
a report in news stating that consumption of oilve oil improves health
A popular new diet prescribes only olive oil for weight loss will lead to a type 2 change in the demand curve.
A report in news stating that consumption of olive oil
improves health will lead to a type 2 change in the demand curve.
Research shows that olive oil consumption leads to hair loss will lead to a type 2 change in the demand curve.
A decrease in the price of other vegetable oil will lead to a type 1 change in the demand curve.
The demand for a product usually has a downward sloping demand curve, all things been equal. This is because there is a negative relationship between price and quantity demanded.
When a new diet prescribes only olive oil for weight loss, there would be an increase in the demand for olive oil. This is because more people would want to consume olive oil so as to lose weight. The appropriate demand curve is the Type 2 demand curve.
As a result of the new report, there would be an increase in the demand for olive oil. his is because more people desire to be healthy. The appropriate demand curve is the Type 2 demand curve.
Other vegetable oils are a substitute for olive oil. When they becomes cheaper, there would an increase in the demand for other vegetable oils and a decrease in demand for olive oil. he appropriate demand curve is the Type 1 demand curve.
If olive oil leads to hair loss, people would consume less of olive oil. As a result there would be a decrease in the demand for olive oil. he appropriate demand curve is the Type 1 demand curve.
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