ECN 204 Chapter Notes - Chapter 4: Economic Equilibrium, Demand Curve, Inferior Good

When quantity demanded decreases in response to a change in price:

a. the demand curve shifts to the right.
b. the demand curve shifts to the left.
c. there is a movement down along the demand curve.
d. there is a movement up along the demand curve.
e. the supply curve shifts to the right.

What is the result of an increase in the price of bread, a normal good?

a. The demand curve shifts to the right.

b. The demand curve shifts to the left.

c. The quantity demanded increases.

d. The quantity demanded decreases.