Asked by Amarjeet Jayanthi on Jun 10, 2024
Verified
If we say that demand for a good has increased,we mean that there has been:
A) a leftward movement along the demand curve.
B) a rightward movement along the demand curve.
C) a leftward shift of the demand curve.
D) a rightward shift of the demand curve.
E) an increase in the slope of the demand curve.
Shift
In economic contexts, this term often refers to a movement or change in the position of a supply or demand curve in response to various factors.
Demand Curve
A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers.
Slope
In mathematics, the measure of the steepness or incline of a line, typically described as the ratio of the rise over the run.
- Explain the distinction between price-induced quantity demanded changes and shifts in the demand curve.
Verified Answer
DS
Darrlynn SimoneJun 12, 2024
Final Answer :
D
Explanation :
An increase in demand means that at the same prices, consumers are willing to buy more of the good, which is represented by a rightward shift of the demand curve.
Learning Objectives
- Explain the distinction between price-induced quantity demanded changes and shifts in the demand curve.