Figure 3-1
-Refer to Figure 3-1.An increase in the price of the product would be represented by a movement from
A)A to B.
B)B to A.
C)D1 to D2.
D)D2 to D1.

Name: Figure 3-1 -Refer to Figure 3-1.An increase in the price of the product would be represented by a movement from A)A to B. B)B to A. C)D1 to D2. D)D2 to D1.
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Question

Figure 3-1 
-Refer to Figure 3-1.An increase in the price of the product would be represented by a movement from
A)A to B. 
B)B to A. 
C)D1 to D2. 
D)D2 to D1.

Quizplus · Accepted Answer

An increase in price would result in a decrease in quantity demanded, causing movement along the demand curve from point B to A.

Figure 3-1 -Refer to Figure 3-1.An Increase in the Price of the Price