Figure 4-5 -Refer to Figure 4-5.Which of the Following Would Cause the Would

question 57

Multiple Choice

Figure 4-5
-Refer to Figure 4-5.Which of the following would cause the demand curve to shift from Demand A to Demand B in the market for golf balls in the United States?

• A)a decrease in the price of golf balls
• B)an increase in the price of green fees
• C)an expectation by buyers that their incomes will increase in the very near future
• D)a change in consumer tastes away from golf and toward tennis

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Definitions:

Variable Costs

Costs that vary directly with the level of production output, such as raw materials and direct labor expenses.

Relevant Costs

Relevant costs are those that will be affected by a decision in a specific situation and are considered when making financial or other managerial decisions.

Fixed Costs

Costs that do not change with the level of goods or services produced within a certain scale.

Product

Any item or service that is created through a process and is intended to be supplied to a market to satisfy a want or need.