Multiple Choice
Use the following to answer question(s) : Simultaneous Shifts in Demand and Supply
-(Exhibit: Simultaneous Shifts in Demand and Supply) D₁ and S₁ are original supply and demand curves, and S₂ and D₂ are new curves.In this market for a normal good, the shift in the demand curve may have been a result of:
A) a decrease in the price of a substitute good.
B) a decrease in the number of buyers.
C) falling incomes.
D) consumers' expecting the price to go up.
Correct Answer:
Verified
Correct Answer:
Verified
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