Figure 13-4B -Which of These Would Most Likely Account for the Shift

question 31

Multiple Choice

Figure 13-4B
-Which of these would most likely account for the shift in the demand curve from D2to D3shown in Figure 13-4B above?

• A) The firm increased its prices and consumers perceived the value of the product to be greater.
• B) There were more product substitutes available in the marketplace.
• C) Competitors in the market lowered their prices.
• D) A recession occurred that lowered consumers' incomes.
• E) The product became trendy among members of its target market.

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Definitions:

Fewer Labor Hours

A reduction in the amount of time workers spend engaged in productive activities, usually measured on a weekly or annual basis.

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An island country in the North Atlantic, known for its dramatic landscape of volcanoes, geysers, hot springs, and lava fields.

Export Goods

products or services that are produced domestically but sold to buyers in other countries.