Question
An increase or decrease in which of the following factors would cause a shift in the demand curve for a given good? Select TWO correct answers(2 points)
Responses
income
income
number of sells
number of sells
price of the good
price of the good
price of related goods
Responses
income
income
number of sells
number of sells
price of the good
price of the good
price of related goods
Answers
GPT-4o mini
The correct answers that would cause a shift in the demand curve for a given good are:
1. **Income** - Changes in consumer income can lead to an increase or decrease in demand for normal or inferior goods.
2. **Price of related goods** - Changes in the prices of substitutes or complements can also shift the demand curve.
The other options, "number of sells" (which doesn't directly relate to demand) and "price of the good" (which causes movement along the demand curve rather than a shift), do not apply.
1. **Income** - Changes in consumer income can lead to an increase or decrease in demand for normal or inferior goods.
2. **Price of related goods** - Changes in the prices of substitutes or complements can also shift the demand curve.
The other options, "number of sells" (which doesn't directly relate to demand) and "price of the good" (which causes movement along the demand curve rather than a shift), do not apply.