27- A movement along the demand curve for automobiles is caused by a change in:
ID: 1186205 • Letter: 2
Question
27- A movement along the demand curve for automobiles is caused by a change in: Question 27 options: a- the price of automobiles. b- the price of gasoline. c- the price of steel. d- consumers' incomes. 27- A movement along the demand curve for automobiles is caused by a change in: 27- A movement along the demand curve for automobiles is caused by a change in: a- the price of automobiles. b- the price of gasoline. c- the price of steel. d- consumers' incomes. the price of automobiles. the price of gasoline. the price of steel. consumers' incomes. a- the price of automobiles. b- the price of gasoline. c- the price of steel. d- consumers' incomes.Explanation / Answer
Demand is the relationship between various prices and the quantities consumers are willing and able to buy, holding all other things constant. Consumers, in general, are willing to buy more of a product at lower prices and less at higher prices. This is movement along the curve.
A shifted curve means the entire curve is redrawn and shifts to the right or left. A shift in the D curve results from: 1-Change in the number of consumers in the market for a product, 2-Change in consumer tastes and preferences for a product, 3-Change in consumer income, 4-Change in the price of related goods
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