The above figure shows the market for bicycles. When there is a physical fitness craze so that everyone wants to exercise the
A) demand curve for bicycles shifts from D1 to D2.
B) demand curve for bicycles shifts from D2 to D1.
C) demand curve and the supply curve of bicycles do not shift.
D) supply curve of bicycles shifts from S1 to S2.
A
Economics
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The figure above shows the market for brooms. Which of the following could lead to the production of fewer than 600 brooms?
A) a monopoly B) a deadweight loss C) subsidies D) an external cost E) a big tradeoff
Economics
Mr. Peabody chooses to invest in companies that produce goods and services at the lowest possible cost. Mr. Peabody is investing in companies that are
A) guaranteed to make a profit. B) productively efficient. C) allocatively efficient. D) all of the above
Economics