When economists say the quantity demanded of a product has decreased, they mean the
a. demand curve has shifted to the left.
b. demand curve has shifted to the right.
c. price of the product has fallen, and consequently, consumers are buying more of it.
d. price of the product has risen, and consequently, consumers are buying less of it.
D
Economics
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Suppose that your firm wants to import sugarcane from Brazil. The exchange rate is 3 Brazilian reals per U.S. dollar and sugarcane costs 36 reals per ton. How much is a ton of sugarcane in U.S. dollars?
A) $12 B) $39 C) $108 D) $109
Economics
If a binding price floor is imposed on the video game market, then
a. the demand for video games will decrease. b. the supply of video games will increase. c. a surplus of video games will develop. d. All of the above are correct.
Economics