Figure: Demand Shift Which of the Following Factors Would

question 54

Multiple Choice

Figure: Demand Shift Which of the following factors would cause the change in the figure?

• A) an increase in the price of a complement good
• B) a decrease in peoples' willingness to pay for the good
• C) an increase in the price of a substitute good
• D) an increase in income for an inferior good

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Definitions:

Variables

Elements, factors, or conditions that can change and affect the outcome of research or experiments.

Hypothesis

A proposed explanation for a phenomenon, made as a starting point for further investigation, which can then be tested through experimentation or observation.

Elementary School

An educational institution for children that provides the first stage of compulsory education.

Hypothesis

A proposed explanation for a phenomenon, set forth as a basis for further investigation.