Exhibit 4.1

-Refer to Exhibit 4.1 for the demand curves of baby formula.Which of the following changes is likely to happen if the price of baby formula decreases?
A) a shift of the demand curve from D1 to D2
B) a movement along the demand curve D1 from point a to point b
C) a shift of the demand curve from D2 to D1
D) a movement along the demand curve D2 from point d to point c
E) a movement from point b on the demand curve D1 to point c on the demand curve D2
Correct Answer:
Verified
Q21: The effect of a decrease in the
Q24: Table 4.1 Q25: If a good is inferior, an increase Q28: A movement along the demand curve for Q29: The demand curve for an inferior good Q34: The income effect of a price change
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