Refer to the accompanying figure. Moving from demand curve D1 to demand curve D2 illustrates a(n):
A. decrease in demand.
B. decrease in quantity demanded.
C. increase in demand.
D. increase in quantity demanded.
Answer: C
You might also like to view...
Explicit costs are
A) costs that are measured in dollars. B) costs that do not involve an exchange of money. C) the same as opportunity costs. D) the same as implicit costs.
If income distribution in an economy is perfectly equal, the lowest quintile will earn 20% of total income
Indicate whether the statement is true or false
Which economist is credited with originating the use of supply and demand analysis?
A. Vernon Smith B. Adam Smith C. Alfred Marshall D. John Maynard Keynes
In a market, buyers and sellers
A. exchange goods and services for money. B. compete with one another. C. are in the same place. D. undermine the proper functioning of the economy.