Given Demand changed from D1 to D2, which of the following statements are TRUE? This represents a decrease in demand. This represents an increase in demand. A possible reason for this change is lower availability of the good. A possible reason for this change is the product has fallen out of fashion. A possible reason for this change is a decrease in consumer income, and this is an inferior good. A possible reason for this change is an increase in supply. A possible reason for this change is shortage of the product. A possible reason for this change is decrease in population in the market. A possible reason for this change is increasing number of buyers. A possible reason for this change is an increase in price of the good.
Given
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This represents a decrease in demand. |
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This represents an increase in demand. |
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A possible reason for this change is lower availability of the good. |
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A possible reason for this change is the product has fallen out of fashion. |
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A possible reason for this change is a decrease in consumer income, and this is an inferior good. |
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A possible reason for this change is an increase in supply. |
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A possible reason for this change is shortage of the product. |
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A possible reason for this change is decrease in population in the market. |
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A possible reason for this change is increasing number of buyers. |
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A possible reason for this change is an increase in price of the good. |
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