Figure 4-2

-Refer to Figure 4-2.If the demand curve shifts from D to D₁,then

Question

Figure 4-2
 
-Refer to Figure 4-2.If the demand curve shifts from D to D₁,then

Quizplus · Accepted Answer

The shift in the demand curve from D to D₁ indicates that at each possible price, people are willing to buy less of the good than before. This could be due to a change in consumer preferences, a decrease in the population, or the availability of substitute products. It does not necessarily indicate a change in people's incomes or an increase in the price of the product. It only describes a change in the quantity demanded at each possible price.

Figure 4-2 -Refer to Figure 4-2.If the Demand Curve Shifts from D