Figure 13-4B

-Which of the following would most likely account for the shift in the demand curve from D₂ to D₃ shown in Figure 13-4B above?
A)The firm increased its prices and consumers perceived the value of the product to be greater.
B)There were more product substitutes available in the marketplace.
C)Competitors in the market lowered their prices.
D)A recession occurred that lowered consumers' incomes.
E)The product became trendy among members of its target market.

Question

Figure 13-4B
 
-Which of the following would most likely account for the shift in the demand curve from D₂ to D₃ shown in Figure 13-4B above?
A)The firm increased its prices and consumers perceived the value of the product to be greater. 
B)There were more product substitutes available in the marketplace. 
C)Competitors in the market lowered their prices. 
D)A recession occurred that lowered consumers' incomes. 
E)The product became trendy among members of its target market.

Quizplus · Accepted Answer

The shift in the demand curve to the right from D₂ to D₃ shows that the quantity demanded increased without reducing the price.This may be due to a change in consumer tastes,the price of substitutes increasing and their availability decreasing,or consumer income increasing (trendiness here).

Figure 13-4B -Which of the Following Would Most Likely Account for the Likely