Refer to the above figure. A movement from Point A to Point B is caused by
A) an increase in income.
B) an expectation of a decrease in the price of the good in that figure.
C) a decrease in the price of the good in that figure.
D) all of the above.
C
You might also like to view...
Suppose the demand for specialty car license plates is perfectly inelastic and the supply curve for specialty license plates is upward sloping. A tax is imposed on specialty license plates. Which of the following is true?
A) Drivers pay the smallest share of the tax. B) Drivers pay none of the tax. C) Drivers pay all of the tax. D) The government pays all of the tax. E) The government collects nothing in tax revenues.
Select the phrase that correctly completes the following statement. "A decrease in the number of manufacturers caused a decrease in the supply of sailboats. As a result,
A) the price of sailboats increased and the demand for sailboats decreased." B) the equilibrium quantity of sailboats increased." C) the price of sailboats increased. The higher price caused the supply of sailboats to increase." D) the price of sailboats increased and the quantity of sailboats demanded decreased."