Figure 11-3b -In Figure 11-3b Above, the Demand Curve Shifts from D1

question 332

Multiple Choice

Figure 11-3b
-In Figure 11-3b above, the demand curve shifts from D1 to D2. This most likely represents

• A) an increase in demand that did not require a change in price but was the result of a change in one or more demand factors.
• B) an increase in demand that required a decrease in price.
• C) no change in price and a decrease in demand that results from internal business practice changes.
• D) no change in demand or price but a greater profit due to economies of scale.
• E) a decrease in price from $8 to $6 per unit.

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Definitions:

Autos

Short for automobiles, referring to motor vehicles designed for passenger transportation.

Capital-Intensive

A capital-intensive process or business requires a high initial investment in machinery, equipment, or infrastructure relative to labor to produce goods or services.

Sunflower Seeds

Edible seeds from the sunflower plant, often eaten as a snack, used in recipes, or processed for their oil.

Chemicals

Chemicals are substances formed from chemical reactions between elements or compounds, and they have specific chemical compositions and properties.