A Shift to the Right in the Demand Curve for Product

question 253

Multiple Choice

A shift to the right in the demand curve for product A can be most reasonably explained by saying that

• A) consumer incomes have declined, and consumers now want to buy less of A at each possible price.
• B) the price of A has increased and, as a result, consumers want to purchase less of it.
• C) consumer preferences have changed in favor of A so that they now want to buy more at each possible price.
• D) the price of A has declined and, as a result, consumers want to purchase more of it.

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Definitions:

Open-Book Account

An account that is open to charges made occasionally as needed.

Charges

Fees or payments required for services, or the formal accusations of wrongdoing.

Account Type

A classification that determines the features and rules applied to a financial or service account, such as savings, checking, or investment accounts.

Collections

The process or practices involved in pursuing payments of debts owed by individuals or businesses.