Which of the following would cause the demand curve for an item to shift to the left? A. A...
Question:
Which of the following would cause the demand curve for an item to shift to the left?
A. A decrease in the price of an important resource needed to produce the item.
B. An increase in business taxes.
C. An increase in consumers' incomes.
D. A decrease in the price of an item the consumer considers to be a substitute.
Demand Curve
The demand curve depicts a relation between the P (price) of a commodity and the Q (quantity) of output. For normal goods, the price of the commodity and the Qd (quantity demanded) always moves in the opposite direction.
Answer and Explanation: 1
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View this answerThe correct answer is option D) A decrease in the price of an item the consumer considers to be a substitute.
When there is a decrease in the price...
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The Market Demand Curve: Definition, Equation & Examples
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Chapter 7 / Lesson 11
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Learn about the market demand curve definition. Find out about the importance of a market demand schedule and how to plot market demand on a graph.
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