Which of the Following Refers to a Shift in the Demand

question 15

Multiple Choice

Which of the following refers to a shift in the demand curve?

• A)"This new advertising campaign should really increase our demand."
• B)"Let's drop our price to increase our demand."
• C)"We dare not raise our price because our demand will drop."
• D)"If new sellers enter the market,the demand for the product is bound to increase."

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Definitions:

Market Supply Curve

A graphical representation showing the quantity of goods that sellers are willing and able to sell at different prices.

Individual Supply Curves

Graphs that depict the relationship between the price of a good and the quantity supplied by an individual producer.

Quantity Supplied

The measure of a good or service that firms are eager and prepared to distribute at an established price throughout a set period.

Quantity Demanded

The total amount of a good or service that consumers are willing to buy at a given price in a given time period, holding all other factors constant.