The quantity demanded of a product increases as its price declines because the .......              lower price shifts the demand curve rightward.        lower price shifts the demand curve leftward.        lower price results in an increase in supply.        demand curve is downsloping.

When income of the consumer rises in case of a normal good: what is the correct answer. a) there is downward movement along the demand curve b) demand curve shifts to the right c) demand curve shifts to the left d) there is upward movement along the demand curve

When quantity demanded decreases in response to a change in price for the good: the demand curve shifts to the left. there is a movement up and to the left along the demand curve. there is a movement down and to the right along the demand curve. the demand curve shifts to the right.

The demand for product M is NOT changed by which of the following? (Consider the Change in Demand vs Change in Quantity Demanded)   Multiple Choice   A change in consumer tastes   A change in the price of M   A change in the price of close-substitute product J   An increase in consumer incomes

If the demand for a good decreases, the demand for the factors used to produce the good:    None of the above answers is correct.    decreases.    could increase, decrease, or stay the same depending on whether the demand for the good is elastic, inelastic, or unit elastic.    increases.    stays the same.

Your income increased by 20%. The resultant impact on your demand curve is Select one: No changes in Demand curve Upward shift in demand curve  Downward shift in Demand curve Leftward shift in demand curve Rightward shift in demand curve