If a consumer’s income increases: Group of answer choicesThere will be a change in demand.There will be a movement along the demand curve.There will be an increase in the quantity demanded, but the demand curve will not shift.b and c.None of the above.

If a consumer’s income increases:   There will be a movement along the demand curve. You Answered  None of these   There will be no change in quantity Correct Answer  There will be a change in demand.

Suppose in a market, there is a change in the price of a good or service. Let’s call this Scenario A. Now, suppose in the same market, there is a change in the income and preferences of customers, or a change in the prices of other goods or services. Let’s call this Scenario B. From the options given below, choose the statement that correctly captures how changes in demand will occur in both of these scenarios. In Scenario A, the demand curve remains fixed, whereas the price and the quantity demanded shift to a different point on the same curve, i.e., we observe a movement observed along a fixed demand curve. In Scenario B, the demand curve itself changes. There is a change in the quantity demanded at the same price, due to which the market shifts to an altogether different demand curve. In Scenario A, the demand curve itself changes. There is a change in the quantity demanded at the same price, due to which the market shifts to an altogether different demand curve.In Scenario B, the demand curve remains fixed, whereas the price and the quantity demanded shift to a different point on the same curve, i.e., we observe a movement observed along a fixed demand curve.In Scenario A, the demand curve itself changes. There is a change in the quantity demanded at the same price, due to which the market shifts to an altogether different demand curve. In Scenario B,  there is no change observed in either the price or the demand.In Scenario A, there is no change observed in either the price or the demand.In Scenario B, the demand curve remains fixed, whereas the price and the quantity demanded shift to a different point on the same curve, i.e., we observe a movement along a fixed demand curve.

Which will not, ceteris paribus, cause the demand curve for good A to shift?Multiple Choicea change in the price of Aa change in the price of B, a complementa change in the price of C, a substitutean increase in average income

Which of the following would NOT shift the demand curve for a good or service?A A change in incomeB A change in the price of a related goodC A change in expectations about the price of the good or serviceD A change in the price of the good or service

An increase in price shifts the demand curve to the left.Group of answer choicesTrueFalse