Once the Demand Curve for a Product or Service Is

question 108

Multiple Choice

Once the demand curve for a product or service is drawn,it

• A)can shift either rightward or leftward.
• B)remains stable over time at all possible prices.
• C)is possible to move up or down the curve, but the curve will not shift.
• D)tends to become steeper over time.

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Definitions:

Ceteris Paribus

A Latin phrase meaning "all other things being equal," used in economics to isolate the effect of one variable on another while holding everything else constant.

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