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Question
Microeconomics
Posted 5 months ago
All of the following will result in a shift in a demand curve except:
Choose 1 answer:
(A) A change in the income of buyers
(B) A change in the supply of a good
(c) A change in expected future prices
(D) A change in the price of related goods
() A change in buyers' preferences
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Answer from Sia
Posted 5 months ago
Solution
a
Demand Curve Shift: A demand curve shifts when there is a change in a non-price determinant of demand
b
Non-Price Determinants: These include factors such as income, preferences, prices of related goods, and expectations about future prices
c
Supply Change: A change in the supply of a good affects the supply curve, not the demand curve
Answer
(B) A change in the supply of a good
Key Concept
Non-Price Determinants of Demand
Explanation
A shift in the demand curve is caused by changes in non-price determinants such as income, preferences, prices of related goods, and expectations about future prices. A change in the supply of a good affects the supply curve, not the demand curve.
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