Figure: Demand Shift Refer to the Figure

question 200

Multiple Choice

Figure: Demand Shift Refer to the figure. Which factor would cause the change in the figure?

• A) a decrease in the price of a complement good
• B) a decrease in the price of the product
• C) a decrease in the price of a substitute good
• D) an increase in taxes

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Definitions:

Scarce Resources

Resources that are limited in availability, meaning they cannot meet all the demands placed on them.

Consenting Individuals

Persons who have given permission for something, especially in a legal or formal context.

Ideal Conditions

Circumstances or situations that are considered perfect or optimal for a certain process or experiment to occur.

Efficiency

The extent to which a process or intervention produces a desired effect or outcome with a minimum amount of waste, expense, or unnecessary effort.