-In the Above Figure,the Shift in the Demand Curve from D

question 307

Multiple Choice

-In the above figure,the shift in the demand curve from D to D? can be the result of

• A) an increase in income if pizza is a normal good.
• B) an increase in the price of a sub sandwich, a substitute for pizza.
• C) an increase in the price of soda, a complement to pizza.
• D) a change in quantity demanded.
• E) a decrease in the supply of pizza that raises the price of pizza.

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Definitions:

Supply Curve

The supply curve is a graphical representation of the relationship between the price of a good or service and the quantity supplied by producers, typically sloping upwards indicating a higher quantity supplied at higher prices.

Demand Curve

A graphical representation showing the relationship between the quantity demanded of a good and its price.

Equilibrium Price

The cost at which consumer demand for a product matches the amount producers are willing to supply, resulting in a stable market.

Supply Curve

A graph showing the relationship between the price of a good and the quantity supplied, with price on the vertical axis and quantity on the horizontal axis.