Author Question: When economists say the demand for a product has increased, they mean the: a. demand curve has ... (Read 101 times)

nenivikky · **on:** Jun 30, 2018

When economists say the demand for a product has increased, they mean the:
a. demand curve has shifted to the right.
b. price of the product has fallen, and consequently, consumers are buying more of it.
c. cost of producing the product has risen.
d. amount of the product that consumers are willing to purchase at various prices has decreased.

Question 2

Other things being equal, the effects of a decrease in the price of orange juice, is represented by which of the following?
a. A rightward shift in the demand curve for orange juice.
b. An increase in the quantity demanded for orange juice.
c. A leftward shift in the demand curve for orange juice.
d. A decrease in the quantity demanded orange juice.