Assume the market is Netflix. Which of the following would cause the demand curve for Netflix to shift to the left. Question 32 options: A) an decrease in the number of competitors for Netflix B) an increase in the price of Netflix C) population growth that causes an expansion in the number potential buyers D) a decrease in the price of a substitute, such as Amazon Prime
Assume the market is Netflix. Which of the following would cause the demand curve for Netflix to shift to the left. Question 32 options: A) an decrease in the number of competitors for Netflix B) an increase in the price of Netflix C) population growth that causes an expansion in the number potential buyers D) a decrease in the price of a substitute, such as Amazon Prime
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 12SQ
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Question
Assume the market is Netflix. Which of the following would cause the demand curve for Netflix to shift to the left.
Question 32 options:
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Expert Solution
Step 1
Because substitute price will decrease,demand for netflix will decrease,causing demand curve to shift left.
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