If the Demand Curve a Firm Faces Shifts to the Right,usually

question 19

Multiple Choice

If the demand curve a firm faces shifts to the right,usually

• A)it would be impossible to tell whether the marginal revenue curve shifts.
• B)the marginal revenue curve would shift to the left.
• C)the marginal revenue curve would shift to the right.
• D)the marginal revenue curve would not shift.

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Definitions:

Marginal Utility

The increased happiness a buyer experiences by consuming an extra unit of a product or service.

Consumer Surplus

Consumer surplus is the difference between what consumers are willing to pay for a good or service and what they actually pay, measuring consumer satisfaction.

Consumer Surplus

The discrepancy between what consumers are ready and capable of paying for a product or service and what they end up actually spending.

Alfred Marshall

A British economist, known for his significant contributions to classical economics, especially his work on the principles of economics, including the theories of supply and demand.