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.
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section: Chapter Questions
Problem 3QR
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![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.
price of the product has risen, and consequently, consumers are
buying less of it.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdc2cdcb0-1195-40c1-b872-7e9b5a9fa96d%2F13fb75ed-97e8-4006-b9d2-c758b41a0b2d%2Fltbrd36_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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.
price of the product has risen, and consequently, consumers are
buying less of it.
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