Suppose That Studies Show That the Demand Curve for Peas

question 51

Multiple Choice

Suppose that studies show that the demand curve for peas has shifted.Which explanation would be rejected first?  

• A) The demand for peas has changed. 
• B) Consumers' tastes have changed. 
• C) The income of consumers has changed. 
• D) The price of peas has changed.

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Definitions:

Markup

The difference between the cost of a good or service and its selling price, expressed as a percentage over the cost.

Management Fee

A charge levied by an investment manager for managing an investment fund.

Fair Value Gain

Positive changes in the fair market value of investments or assets, reflecting increased worth.

Available-for-sale Financial Assets

Financial assets not classified as held for trading, held to maturity, or loans and receivables, and are thus measured at fair value with changes recognized in other comprehensive income.