When quantity demanded decreases in response to a change in price:
a. the demand curve shifts to the right
b. the demand curve shifts to the left.
c. there is a movement down along the demand curve.
d. there is a movement up along the demand curve.
d
You might also like to view...
In the production of goods and services, trade-offs exist because
A) not all production is efficient. B) society has only a limited amount of productive resources. C) we have abundant resources to choose from. D) human wants and needs are limited at a particular point in time.
Arthur sells $100 worth of cotton to Bob. Bob turns the cotton into cloth, which he sells to Camille for $300. Camille uses the cloth to make prom dresses that she sells to Donita for $700. Donita sells the dresses for $1,200 to kids attending the prom
The total contribution to GDP of this series of transactions is: A. $1,200. B. $500. C. $2,300. D. $1,100.