-Refer to the Above Figure

question 299

Multiple Choice

-Refer to the above figure. For a normal good, the rightward shift of the curve could have been caused by

• A) a technological improvement.
• B) an increase in the cost of inputs.
• C) an increase in income.
• D) a decrease in income.

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Definitions:

Promotional Activities

Promotional activities are marketing efforts designed to inform, persuade or remind target audiences about a product, service, or brand.

Decrease Retailer Prices

A reduction in the amount charged by retailers for goods or services, potentially to attract more customers or clear inventory.

Vertical Contracts

Agreements between firms at different levels in the supply chain, such as a manufacturer and a retailer.

Benefits

Advantages or payments provided typically by employers or government programs to support well-being, such as health insurance or pension.