The market demand curve for a particular good
a. will shift to the right if more consumers enter the market
b. could shift to the left if more consumers enter the market
c. will be upward sloping if the good is an inferior good
d. will always shift to the right if consumers' incomes increase
e. could shift downward if more consumers enter the market
A
Economics
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"The price elasticity of demand is a measure of how sensitive demanders are to changes in the price of a product." Is this statement true or false?
What will be an ideal response?
Economics
Refer to the production possibility graph above. Assume that the economy is in equilibrium at point e. If the price of good B increases, the new equilibrium is most likely to be
A) point f. B) point d. C) point e. D) point h. E) point b.
Economics