Figure 4-6
-Refer to the Figure 4-6. What happens if the demand curve shifts from D1 to D?

Question

Figure 4-6 
-Refer to the Figure 4-6. What happens if the demand curve shifts from D1 to D?

Quizplus · Accepted Answer

If the demand curve shifts from D1 to D, it means that people are now more willing to buy the product at any price than before. This could be due to various factors such as changes in consumer preferences, increase in disposable income, or increase in population. As a result, the equilibrium point would shift to the right, leading to an increase in both price and quantity demanded. Firms would be willing to supply more than before to meet the increased demand.

Figure 4-6 -Refer to the Figure 4-6. What Happens If the Demand