Figure 11-3b -In Figure 11-3b,the demand curve shifts from D₁ to D2.This most likely represents A) an increase in demand that did not require a change in price but was the result of a change in one or more demand factors. B) an increase in demand that required a decrease in price. C) no change in price and a decrease in demand that results from internal business practice changes. D) no change in demand or price but a greater profit due to economies of scale. E) a decrease in price from $8 to $6 per unit.

Question

Quizplus · Accepted Answer

The shift in the demand curve from D₁ to D2 indicates an increase in demand, but there is no change in price. This suggests that the increase in demand was a result of a change in one or more of the demand factors, such as an increase in consumer income or a change in tastes and preferences. Choice B is eliminated because there was no decrease in price associated with the increase in demand. Choice C is eliminated because there was no decrease in demand, only an increase. Choice D is eliminated because there was no change in demand or price. Choice E is eliminated because there is no information indicating a change in price from $8 to $6 per unit.

Figure 11-3b -In Figure 11-3b,the Demand Curve Shifts from D1 to D2.This

Figure 11-3b -In Figure 11-3b,the Demand Curve Shifts from D₁ to D2.This