Which of the Following Lists Has Variables That All Shift

question 69

Multiple Choice

Which of the following lists has variables that all shift a good's demand curve?

• A) price of the good, preferences, prices of substitution goods, income
• B) income, preferences, number of buyers, price of complementary good
• C) expectation of future price, price of the good, number of buyers, income
• D) Both answers A and B are correct.

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Definitions:

Marginal Utility

Marginal Utility is the added satisfaction or benefit a consumer receives from consuming one more unit of a good or service.

Diminishing Marginal Utility

The principle that the utility or satisfaction gained by consuming each additional unit of a good or service decreases as more of that good or service is consumed.

Marginal Utility

The extra pleasure or benefit derived from consuming an additional unit of a product or service.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good that consumers are willing and able to purchase at various prices.