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Sia

Question
Statistics
Posted 6 months ago

Which of the following movements would represent an increase in the demand for a good?

Choose 1 answer:
(A) From SS to UU
(B) From RR to SS
(C) From RR to TT
(D) From TT to UU
(E) From SS to RR

Related content
Change in demand versus change in quantity demanded
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Answer from Sia
Posted 6 months ago
Solution by Steps
step 1
Identify the two demand curves D1 and D2 and their respective points
step 2
Understand that an increase in demand is represented by a shift of the demand curve to the right, from D1 to D2
step 3
Locate the points that correspond to movements along or shifts of the demand curves
step 4
Determine which movement represents a shift from D1 to D2, indicating an increase in demand
step 5
Compare the answer choices with the identified shift in demand curves
Answer
The correct movement that represents an increase in demand is from a point on D1 to a corresponding point on D2 with a higher quantity demanded at the same price or a higher price for the same quantity.
C
Key Concept
Shift in demand curve
Explanation
An increase in demand is shown by a rightward shift of the demand curve, which means at the same price, consumers are willing to purchase more of the good, or they are willing to pay a higher price for the same quantity.

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