A Shift to the Right in the Demand Curve for Product

question 49

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 they 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 decreased and,as a result,consumers want to purchase more of it.

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Definitions:

Magnitude

The size, extent, or dimensions of something, often used to describe the intensity or severity of an entity or event.

Response

A reaction or answer provided after receiving stimuli or information.

Dishabituation

An increase in responsiveness when something novel is presented, following a series of presentations of something familiar.

Visual Presentation

The display of information or data through visual means, such as charts, graphs, images, or videos, to enhance understanding or retention.