Asked by
kundan kumar
on Oct 25, 2024
Verified
Which of the following will cause the demand curve for Beatles' compact discs to shift to the right?
A) An increase in the price of the discs
B) A decrease in consumers' incomes
C) An increase in the price of Phil Collins' latest compact disc (a substitute)
D) all of the above
E) none of the above
Demand Curve
An illustrative chart demonstrating the connection between the cost of a commodity and the consumer demand for it.
Beatles' Compact Discs
A specific example of a product, referring to the compact discs (CDs) that contain music by the Beatles.
Phil Collins
A British musician and actor known for his solo career and as the drummer and lead singer for the rock band Genesis.
- Highlight the factors capable of instigating changes in supply and demand curves.
- Understand the impact of changes in consumer preferences on the demand curve.
Verified Answer
NR
Learning Objectives
- Highlight the factors capable of instigating changes in supply and demand curves.
- Understand the impact of changes in consumer preferences on the demand curve.