An increase in demand:

a. results in a leftward shift of the demand curve.
b. could be caused by a decrease in the price of the good.
c. could be caused by an increase in the price of a substitute good.
d. is shown as movement down along a demand curve.


c

Economics

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Refer to Figure 4-1. What is the total amount that Kendra is willing to pay for 1 ice cream cone?

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Explain the concept, goals, and methods of integrated rural development

What will be an ideal response?

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Suppose external benefits are present in a market which results in the actual market price of $49 and market output of 800 units. How does this outcome compare to the efficient, ideal equilibrium?

a. The efficient price would be higher than $49. b. The efficient price would be lower than $49. c. The efficient price would also be $49. d. The efficient output would be less than 800 units.

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Resources are directed from one industry to another by

A. Market failure. B. Government failure. C. Changes in market prices. D. None of the choices are correct.

Economics