Four of the five events described below might reasonably be expected to shift the demand curve for beef to a new position.One would not shift that demand curve.The single exception is:
A)a rise in the price of some good which consumers regard as a substitute for beef.
B)a fall in the price of beef
C)an increase in the money incomes of beef consumers.
D)a widespread advertising campaign undertaken by the producers of a product competitive with beef (e.g.pork).
E)a change in people's tastes with respect to beef.

Question

Quizplus · Accepted Answer

A fall in the price of beef would not shift the demand curve for beef to a new position. It would simply result in a movement along the existing demand curve, as consumers would buy more beef at a lower price. The other options could all potentially shift the demand curve for beef to a new position.

Four of the Five Events Described Below Might Reasonably Be