Figure 13-4B -In Figure 13-4B Above,the Demand Curve Shifts from D₂ to Shifts

question 167

Multiple Choice

Figure 13-4B

-In Figure 13-4B above,the demand curve shifts from D₂ to D₃ (B) .This most likely represents

• A)an increase in demand resulting from competitor or consumer changes.
• B)an increase in demand that required a decrease in price.
• C)no change in price and no change in demand.
• D)no change in demand or price but a greater profit due to economies of scale.
• E)a decrease in price from $8 to $6 per unit.

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Definitions:

Prime Objective

The main goal or target an individual, group, or organization aims to achieve.

Domestic Industries

Sectors of a country's economy that produce goods or services primarily for consumption within the same nation.

Clustering

Clustering is the grouping or gathering of objects, data points, or individuals based on similarities or common characteristics.

Regional Information

Data or details that pertain to a specific geographical area or region.