What might cause a movement along the demand curve?
A movement along the demand curve might be caused by a change in a. income. b. the prices of substitutes or complements. c. expectations about future prices. d. the price of the good or service that is being demanded. d. the price of the good or service that is being demanded.
What happens to the demand curve when the market price decreases?
At a price of $15, there would be a Refer to Table 4-8. Suppose Firm X and Firm Y are the only two sellers in the market. If the market price decreases from $12 to $9, quantity supplied will results in a movement upward and to the left along a demand curve.
What happens when the price of a good decreases?
Suppose that a decrease in the price of good X results in fewer units of good Y being demanded. This implies that X and Y are Suppose an increase in the price of rubber coincides with an advance in the technology of tire production.
What would happen to the equilibrium price and quantity of lattés?
What would happen to the equilibrium price and quantity of lattés if consumers' incomes rise and lattés are a normal good? a. Both the equilibrium price and quantity would increase.
What will causes demand curve to shift?
Factors that can shift the demand curve for goods and services, causing a different quantity to be demanded at any given price, include changes in tastes, population, income, prices of substitute or complement goods, and expectations about future conditions and prices.
Which of the following would lead to an increase in the demand for golf balls?
The correct option is: (d) An increase in average household income when golf balls are a normal good. See full answer below.
What are 3 things that will cause the demand curve to shift?
There are five significant factors that cause a shift in the demand curve: income, trends and tastes, prices of related goods, expectations as well as the size and composition of the population.
How does a decrease in the price of golf clubs affect the demand for golf balls?
However, when they purchase fewer golf clubs, then are also inclined to want and need less golf balls. The result is a decrease in the demand for golf balls and a leftward shift of the demand curve.
Which of the following would lead to a shift to the right of the supply curve of a specific product?
which of the following would shift the supply curve for a product to the right? an increase in the price of a resource used in the good's production.
What causes the demand to increase?
Increases in demand are shown by a shift to the right in the demand curve. This could be caused by a number of factors, including a rise in income, a rise in the price of a substitute or a fall in the price of a complement.
What causes a shift in the demand curve quizlet?
Shift along the demand curve is price dependent, assuming other factors that change demand is held constant. Something other than price, such as income, population, consumer expectations, and consumer tastes will shift curve left or right.
What are factors that shift the demand curve quizlet?
Terms in this set (6)Consumer income. If consumer income goes up The demand curve shifts to the right. ... A change in fashion or taste. If goods are more fashionable than the demand curve shifts outwards. ... A change in price in other goods. ... Advertising. ... Changes in population. ... Government Legislation.
What might cause a demand curve to shift to the right quizlet?
The demand curve for a good will shift to the right if, holding all else constant, consumers expect future prices to increase. The law of supply states that, all other things being equal, the quantity supplied falls when the price falls, and the quantity supplied rises when the price rises.
Which of the following will cause the demand curve for product A to shift to the left?
Which of the following will cause the demand curve for product A to shift to the left? an increase in money income if A is an inferior good.
Which of the following would cause a shift to the right of the supply curve for gasoline?
c. an increase in the number of producers of gasoline would shift the supply curve for gasoline to right. An increase in the number of producers would mean higher gasoline production at each price level. This will increase the supply of gasoline in the market, shifting the supply curve to the right.
Which of the following would cause a demand curve for a good to be price inelastic?
Q.Which of the following would cause a demand curve for a good to be price inelastic?B.there are a great number of substitutes for the goodC.the good is a necessityD.the good is an inferior goodAnswer» c. the good is a necessity1 more row
What is the rightward shift of a supply curve?
a decrease in the number of people in the United States under age 70. A rightward shift of a supply curve is called a (n) increase in supply. The law of supply states that, other things equal, when the price of a good. rises, the quantity supplied of the good rises. Refer to Figure 4-11.
When the price of a good is higher than the equilibrium price, what happens?
When the price of a good is higher than the equilibrium price, sellers desire to produce and sell more than buyers wish to purchase. The market demand curve. represents the sum of the quantities demanded by all the buyers at each price of the good. An increase in demand is represented by a.
