Figure 11-3b -Which of the Following Statements Most Likely Would Account for Would

question 164

Multiple Choice

Figure 11-3b
-Which of the following statements most likely would account for the shift in the demand curve from D₁ to D₂ shown in Figure 11-3b?

• A) The firm increased its prices and consumers perceived the value of the product to be greater.
• B) There were fewer product substitutes available in the marketplace.
• C) Competitors in the market raised their prices.
• D) A recession occurred that raised consumers' incomes.
• E) The firm's price remained the same but changes occurred in consumer tastes.

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