Assume the graph shown represents the market for button-up shirts and was originally in equilibrium with D and S.What type of shock might cause a shift from D to D₂?

Question

Quizplus · Accepted Answer

An increase in income would cause a shift in demand from D to D_{2, as consumers would have more disposable income to purchase button-up shirts. The shift in supply from S to} is not specified in the question, so it is unclear what could cause this shift. The changes in price of buttons, ties, or sweatshirts would not directly impact the market for button-up shirts and therefore would not cause a shift in the demand or supply curve.

Assume the Graph Shown Represents the Market for Button-Up Shirts