When quantity demanded decreases in response to a change in price:
A. the demand curve shifts to the left.
B. the demand curve shifts to the right.
C. there is a movement from one point to another along the demand curve
Answer: C. there is a movement from one point to another along the demand curve
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If two duopolists can stick to a cartel agreement to boost their prices, then both
A) earn greater profits than if they did not collude. B) price at marginal cost. C) price below average total cost. D) decrease their economic profits. E) increase their production so that each produces more than if they did not collude.
Which of the following is one way the Federal Reserve Bank serves the government?
(A) Financing state government projects. (B) Making loans to the government. (C) Minting coins for the government. (D) Selling government securities.