If the Demand Curve for a Good Shifts Leftward

question 85

Multiple Choice

If the demand curve for a good shifts leftward,

• A) quantity demanded is less at each price.
• B) quantity demanded remains constant at each price.
• C) quantity demanded is greater at each price.
• D) demand is greater at each price.

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Definitions:

Mark-Up

The percentage added to the cost of goods to determine the selling price, covering overhead and profit.

Agreed Transfer Price

The price at which goods or services are transferred between departments within a company or between affiliated companies.

Gross Margin

The difference between sales revenue and the cost of goods sold, expressed as a percentage of sales revenue, indicating the financial health of a company's core activities.

Transfer Price

The price at which goods and services are sold between divisions within the same company.