A possible explanation for a change in demand from D2 to D1 is a) a decrease in consumers' income. b) an improvement in technology. c) a decrease in wages. d) a decrease in supply. e) an increase in supply.

A possible explanation for a change in demand from D2 to D1 is a) a decrease in consumers' income. b) an improvement in technology. c) a decrease in wages. d) a decrease in supply. e) an increase in supply.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

07. A possible explanation for a change in demand from D2 to D1 is

		a) a decrease in consumers' income.
		b) an improvement in technology.
		c) a decrease in wages.
		d) a decrease in supply.
		e) an increase in supply.

28
24
20
S2
16
S1
12
8
4
D1
D2
0 4 8 12 16 20 24 Q
P.

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