Asked by Jorge Ortez on Jun 14, 2024
Verified
When milk consumption decreased,a survey firm wanted to know what was going on,so they interviewed people and found that people thought that rising milk prices were making it hard to justify their milk purchases.This suggests that what is going on is a:
A) movement along the demand curve for milk.
B) movement along the supply curve for milk.
C) shift of the demand curve for milk.
D) shift of the supply curve for milk.
Movement Along
Refers to changes in the quantity demanded or supplied of a good in response to price changes, moving along a demand or supply curve.
Demand Curve
A graph showing the relationship between the price of a good and the quantity demanded by consumers, normally sloping downwards from left to right.
Milk Consumption
Refers to the amount of milk and milk products that individuals drink or use over a certain period.
- Identify factors leading to shifts in the demand curve.
Verified Answer
Learning Objectives
- Identify factors leading to shifts in the demand curve.
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