Peter studies the demand curve of Sydney consumers of BMW cars. He has data for the May, June and July periods but is unsure how to analyse it and so asks for your help.

Select the item from the list provided to make the following statements true.

QUESTION 3 Peter studies the demand curve of Sydney consumers of BMW cars. He has data for the May, June and July periods but is unsure how to analyse it and so asks for your help. Select the item from the list provided to make the following statements true. The prices of BMW cars increase during May. If demand was unchanged, this will result in alan in quantity demanded. 1. Movement up and along the demand curve 2. Increase If the price fell in June for BMW cars, ceteris paribus, how would an economist describe what happens in relation to the demand curve? There would be 3. Decrease 4. Not equal If the price increases in July (ceteris paribus) but is still lower than at the start of May, then the quantity demanded for BMW cars in 5. Shift to the left of the demand curve July compared to May would 6. Decrease in demand 7. Shift right of the demand curve 8. Shift left of the supply curve 9. Movement both up and down along the demand curve 10. Movement down and along the demand curve 11. Not enough information to know 12. Nothing has changed