If the Demand Curve Shifts to the Left, Demand

question 135

Multiple Choice

If the demand curve shifts to the left, demand:

• A) decreases.
• B) remains the same.
• C) increases.
• D) doubles.

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Definitions:

AFC

Acronym that stands for Average Fixed Cost, the fixed costs of production divided by the quantity of output produced.

ATC

Average Total Cost, which is the total cost of production divided by the number of goods produced.

Output

The total amount of goods or services produced by a company, industry, or economy within a specific period.

Marginal Study Time

The additional benefit or improvement in performance obtained from studying for one more unit of time.