A shift of the demand curve to the left represents
A) an increase in demand.
B) a decrease in demand.
C) an increase in quantity demanded.
D) a decrease in quantity demanded.
B
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The figure above shows a labor market. If this labor market is perfectly competitive, the wage rate is
A) $4 per hour. B) $6 per hour. C) $8 per hour. D) $10 per hour.
Suppose when the price of laptops fall, college students buy more laptops. This implies that
A) there is a one-to-one relationship between laptop prices and quantities purchased by college students. B) there is a direct relationship between laptop prices and quantities purchased by college students. C) there is a negative relationship between laptop prices and quantities purchased by college students. D) there is a positive relationship between laptop prices and quantities purchased by college students.