FIGURE 12-6
-Which of the following statements most likely would account for the shift in the demand curve shown in Figure 12-6 above?
A)The firm increased its prices and the value of the product was perceived to be greater.
B)There were more product substitutes available in the marketplace.
C)Competitors in the market lowered their prices.
D)A downward economic shift caused proportionate changes in consumer income.
E)The firm's price remained the same but changes occurred in consumer tastes.

Question

FIGURE 12-6 
-Which of the following statements most likely would account for the shift in the demand curve shown in Figure 12-6 above?
A)The firm increased its prices and the value of the product was perceived to be greater. 
B)There were more product substitutes available in the marketplace. 
C)Competitors in the market lowered their prices. 
D)A downward economic shift caused proportionate changes in consumer income. 
E)The firm's price remained the same but changes occurred in consumer tastes.

Quizplus · Accepted Answer

A shift in the demand curve, without a change in price, is typically due to changes in consumer preferences or tastes, which can increase or decrease demand at the same price level.

FIGURE 12-6 -Which of the Following Statements Most Likely Would Account for Would