What usually happens to quantity demanded when the price of a good falls?

When the price of a good falls, the quantity demanded typically increases due to the basic principle of the law of demand. This principle states that, all else being equal, when the price of a good decreases, consumers are more willing and able to purchase more of that good.

Lower prices make the good more attractive to consumers, as they can buy more for the same amount of money, or they may find that the good is a better value compared to other products. As a result, the demand curve, which is a graphical representation of the quantity demanded at different price levels, illustrates that a decrease in price shifts the quantity demanded to the right along the curve.

This behavior also reflects consumer preferences; as the price drops, the good becomes a more appealing option compared to substitutes, leading to an increase in the overall quantity demanded. In summary, when the price of a good falls, consumers respond by purchasing more of it, resulting in an increase in quantity demanded.