Asked by
Mariel Antonio
on Dec 08, 2024Verified
A movement along the demand curve to the left may be caused by a
A) rise in income.
B) decrease in supply.
C) fall in the number of substitute goods.
D) fall in the price of inputs.
Demand Curve
A graphical representation of the relationship between the price of a good and the quantity demanded.
Movement
Refers to a change in position, location, or state of an object or concept over time.
Substitute Goods
These are goods that can be used in place of one another, such that the increase in price of one leads to an increase in demand for the other.
- Comprehend how market dynamics (supply and demand) influence the price and quantity in markets without regulations.
Verified Answer
RZ
Learning Objectives
- Comprehend how market dynamics (supply and demand) influence the price and quantity in markets without regulations.