Figure 4.6.1 -Refer to Figure 4.6.1 above. The demand curves d 1 , d 2 and d 3 are:

The demand curves d 1 , d 2 and d 3 represent changes in variables other than price, such as income. They are examples of how the demand for a product might change as income levels change, rather than solely in response to changes in price.

Figure 4.6.1 -Refer to Figure 4.6.1 above. The demand curves d 1 , d 2 and d 3 are:

The demand curves d 1 , d 2 and d 3 represent changes in variables other than price, such as income. They are examples of how the demand for a product might change as income levels change, rather than solely in response to changes in price.

Solved

Figure 4.6.1 -Refer to Figure 4.6.1 Above. the Demand Curves D₁, D₂

Question 110

Multiple Choice

Figure 4.6.1
-Refer to Figure 4.6.1 above. The demand curves d₁, d₂ and d₃ are:

A) an example of demand curves poorly estimated.
B) demand curves that represent the change in variables other than price, such as income.
C) demand curves for three different types of goods, which are then used to construct an aggregate demand curve.
D) demand curves that depict the change in market price as time goes by.

Correct Answer: