Answered: A movement along a demand curve caused…

A movement along a demand curve caused by changes in the price of a good is known as: A. Change in Demand B. Shift in Demand C. Law of Demand

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter4: The Market Forces Of Supply And Demand

Section: Chapter Questions

Problem 2CQQ

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Question

A movement along a demand curve caused by changes in the price of a good is known as:

A. Change in Demand

B. Shift in Demand

C. Law of Demand

Definition Definition Economic principle that states that as the price of a good or service increases, the quantity demanded by consumers decreases, while a decrease in price leads to an increase in quantity demanded, assuming all other factors affecting the demand remaining constant.

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