Please answer this ASAP, Thanks: Demand is the relationship between price and the quantity demanded. Which...
Please answer this ASAP, Thanks: Demand is the relationship between price and the quantity demanded. Which of the following statements are true:
|
A price change results in movement along the demand curve. |
|
A change in the number of consumers can shift the market demand curve left or right. |
|
A change in the price of a substitute will result in a change in the quantity demanded of the good in question, in the opposite direction of the price change. |
|
All of the above statements are true. |
|
Two of the above statements are true. |
Homework Answers
Two of the above statements are true.
- A price change results in movement along the demand curve.
- A change in the number of consumers can shift the market demand curve left or right.
(Third statement is wrong, when price of a substitute increases, the quantity demanded of the good in question also increases)
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Please answer this ASAP, Thanks: Demand is the relationship
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