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On the diagram to the right, a movement from A to B represents a OA. change in demand. O B. decrease in demand. OC. movement up the demand curve. OD. change in quantity demanded. ARN D₁ Quantity (millions of units per month) D₂

On the diagram to the right, a movement from A to B represents a OA. change in demand. O B. decrease in demand. OC. movement up the demand curve. OD. change in quantity demanded. ARN D₁ Quantity (millions of units per month) D₂

ENGR.ECONOMIC ANALYSIS
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:** On the diagram to the right, a movement from A to B represents a - A. change in demand. - B. decrease in demand. - C. movement up the demand curve. - D. change in quantity demanded. **Diagram Explanation:** The diagram shows a graph with two demand curves labeled \( D_1 \) and \( D_2 \), indicating different positions. The vertical axis represents "Price (dollars per unit)" and the horizontal axis represents "Quantity (millions of units per month)." - Point A is on the demand curve \( D_1 \). - Point B is also on the same demand curve \( D_1 \) but at a lower price and higher quantity compared to point A. - Point C is on the demand curve \( D_2 \). A movement from point A to point B indicates a change in the position along the same demand curve \( D_1 \), illustrating a change in quantity demanded as the price changes.
Transcribed Image Text:**Question:** On the diagram to the right, a movement from A to B represents a - A. change in demand. - B. decrease in demand. - C. movement up the demand curve. - D. change in quantity demanded. **Diagram Explanation:** The diagram shows a graph with two demand curves labeled \( D_1 \) and \( D_2 \), indicating different positions. The vertical axis represents "Price (dollars per unit)" and the horizontal axis represents "Quantity (millions of units per month)." - Point A is on the demand curve \( D_1 \). - Point B is also on the same demand curve \( D_1 \) but at a lower price and higher quantity compared to point A. - Point C is on the demand curve \( D_2 \). A movement from point A to point B indicates a change in the position along the same demand curve \( D_1 \), illustrating a change in quantity demanded as the price changes.
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