An Increase in the Demand for a Good Means That

question 68

Multiple Choice

An increase in the demand for a good means that

• A) the demand curve has shifted to the left.
• B) the good's price has fallen and, as a result, consumers are buying more of the good.
• C) the good has become scarce.
• D) consumers are willing to purchase more of the good at each possible price.

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Definitions:

Fair Value

An estimate of the market value of an asset or liability, based on current prices in active markets for identical or similar items.