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MP Microeconomics (ECO-2 rses / 19WNCMP ECO-202-20102/ Week 2 / Week 2 Quiz Which are shift factors of demand? Select one: O a. prices of other goods, income, technology O b. tastes, prices of other goods, income O c. income, prices of inputs, taxes O d. tastes, income, technology t Answers Jump to...
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Answer #1

​​​​​​There are a five major factors that cause a shift in the demand curve: income, preferences and tastes, prices of related goods (substitutes and complements), expectations as well as size and composition of the population.

They can be show in the following graph:

Taste shift to lesser Taste shift to greater popularity Population likely to buy rises popularity Population likely to buy dr

Source: Khanacademy.org

Correct Ans - B

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