When Economists Say That the Demand for a Product Has

question 163

Multiple Choice

When economists say that the demand for a product has decreased, they mean that

• A)consumers are going to purchase less at any given price.
• B)the price has increased and consumers will purchase less of the product.
• C)the demand curve has shifted to the right.
• D)the product has become more abundant and consumers therefore want it less.
• E)consumers would be willing to pay less to receive the same quantity.

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