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

Multiple Choice

Which of the following statements most likely would account for the shift in the demand curve from D₁ to D₂ 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 more product substitutes available in the marketplace.
C) Competitors in the market lowered their prices.
D) A downward economic shift caused a proportionate change in consumer income.
E) The firm's price remained the same but changes occurred in consumer tastes.