If a Significant Number of Consumers Switch from Consuming Traditional

question 8

Multiple Choice

If a significant number of consumers switch from consuming traditional baked goods to consuming vegan baked goods, a vegan bakery will likely find its demand curve shifting to the ________ and its marginal revenue curve shifting to the ________ as more competitors enter the market.

• A)right; right
• B)right; left
• C)left; right
• D)left; left

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Definitions:

Rehearsal

The act of practicing or repeating information or skills to enhance memory or proficiency.

Memory

The cognitive process of encoding, storing, and retrieving information, allowing individuals to retain knowledge and experiences over time.

Automatic Processing

Unconscious encoding of incidental information, such as space, time, and frequency, and of well-learned information, such as word meanings.

Conscious Awareness

The state of being aware of and able to think about one's own existence, sensations, thoughts, and environment.