(Figure: Demand for Shoes) a Shift to the Right of the Demand

question 114

Multiple Choice

(Figure: Demand for Shoes) A shift to the right of the demand curve would NOT be caused by a(n)

• A) decrease in the population.
• B) increase in income given that shoes are a normal good.
• C) decrease in the price of a complement.
• D) increase in the price of a substitute.

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Definitions:

Absolute

Something that is considered to be universal, unconditional, and complete in itself, often used in the context of truth or moral principles.

Utilitarian Theory

A normative ethical theory that posits the best action is the one that maximizes utility, typically defined as that which produces the greatest well-being of the greatest number of people.

Interests

Concerns, benefits, or advantages of a person or group.

Utilitarian Theory

A normative ethical theory suggesting that the best action is the one that maximizes utility, typically defined as that which produces the greatest well-being of the greatest number of people.