-The Figure Above Shows the Market for Chocolate

question 49

Multiple Choice

-The figure above shows the market for chocolate. People become more concerned that eating chocolate causes them to gain weight, which they do not like. As a result, the

• A) demand curve shifts from D2 to D1 and the supply curve does not shift.
• B) demand curve shifts from D2 to D1 and the supply curve shifts from S2 to S1.
• C) demand curve does not shift, and the supply curve shifts from S1 to S2.
• D) demand curve shifts from D1 to D2 and the supply curve shifts from S1 to S2.

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Definitions:

Unit of Labor

A measure of labor input, often represented by one worker or one hour of work, used to calculate productivity or costs.

Marginal Cost

The price of fabricating another unit of a good or service.

Total Cost

The sum of all costs incurred in the production of goods or services, including fixed and variable costs.

Fixed Cost

A cost that does not change with the level of output or sales, such as rent, salaries, and insurance.