An increase in the price of wheat will lead to
A) an upward movement along the demand curve for wheat.
B) a leftward shift in the demand curve for wheat.
C) a rightward shift in the supply curve for wheat.
D) an increase in the quantity of wheat consumed.

Question

Quizplus · Accepted Answer

An increase in the price of wheat causes an upward movement along the demand curve for wheat, reflecting a decrease in quantity demanded at higher prices, according to the law of demand. This does not shift the demand curve itself, nor does it directly affect the supply curve's position or increase consumption.

An Increase in the Price of Wheat Will Lead to