Which of the Following Statements Most Likely Would Account for the Shift

question 191

Multiple Choice

Which of the following statements most likely would account for the shift in the demand curve from D₂ to D₃ shown in Figure 13-5B above?

• A)The firm increased its prices and consumers perceived the value of the product to be greater.
• B)There were fewer product substitutes available in the marketplace.
• C)Competitors in the market raised their prices.
• D)A recession occurred that raised consumers' incomes.
• E)The firm's price remained the same but changes occurred in consumer tastes.

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Definitions:

Gut Reactions

Instantaneous responses we have to a situation or stimulus, not based on rational analysis but on our innate, visceral feelings.

Broaden-and-build Theory

A psychological model suggesting that positive emotions expand one's awareness and inspire novel, varied, and exploratory thoughts and actions.

Positive Emotions

Feelings that are enjoyable and pleasurable, such as happiness, joy, or love, which contribute to positive well-being.

Differentiated

To be distinguished or made distinct in nature or qualities from others, often referring to products, services, or market segments.