When economists say the quantity demanded of a product has increased, they mean the demand curve has shifted to the left. demand curve has shifted to the right. O price of the product has fallen, and consequently, consumers are buying more of it. O price of the product has risen, and consequently, consumers are buying less of it.

When economists say the quantity demanded of a product has increased, they mean the demand curve has shifted to the left. demand curve has shifted to the right. O price of the product has fallen, and consequently, consumers are buying more of it. O price of the product has risen, and consequently, consumers are buying less of it.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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