A change in the price of a good or service causes a change in the quantity demandeda

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A change in the price of a good or service causes a change in the quantity demanded—a movement along the demand curve.

A change in a demand shifter causes a change in demand, which is shown as a shift of the demand curve. Demand shifters include preferences, the prices of related goods and services, income, demographic characteristics, and buyer expectations.

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Principles Of Microeconomics

ISBN: 9781843317708

1st Edition

Authors: Libby Rittenberg, Timothy Tregarthen

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Question Posted: Nov 06, 2024 08:00 AM

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A change in the price of a good or service causes a change in the quantity demandeda

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Principles Of Microeconomics

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