FIGURE 3- 1 -Refer to Figure 3- 1. a Shift of the Demand

question 17

Multiple Choice

FIGURE 3- 1
-Refer to Figure 3- 1. A shift of the demand curve for energy- efficient light bulbs from D to D2 could be caused by

• A) an increase in the price of ordinary light bulbs.
• B) a change in preferences away from ordinary bulbs to energy- efficient bulbs.
• C) a news bulletin stating that energy- efficient light bulbs emit a harmful gas.
• D) a decrease in the price of energy- efficient light bulbs.
• E) an expectation that new government regulation will require the use of energy- efficient light bulbs only.

---

Definitions:

Opera Ticket

A pass or admission ticket to attend an opera performance, typically sold by the opera house or through various ticket venues.

Free Ticket

A complimentary pass or voucher granting the holder access to an event, activity, or service at no cost.

Opportunity Cost

The cost of the next best alternative that is forgone when making a decision.

Economic Concept

A principle, theory, or idea that forms the basis for economic analysis and decision-making.