An increase or decrease in which of the following factors would cause a shift in the demand curve for a given good? Select the two correct answers.(1 point)

Question

Responses

price of related goods
price of related goods

input prices
input prices

income
income

price of the good
price of the good

number of sellers

Answer 1

The two correct answers that would cause a shift in the demand curve for a given good are:

1. price of related goods - Changes in the price of related goods (substitutes or complements) can shift the demand curve for a good.

2. income - Changes in consumer income also affect the demand for goods, leading to shifts in the demand curve.

The other options, such as input prices and the price of the good itself, affect supply and demand quantity but do not cause a shift in the demand curve directly. The number of sellers primarily impacts the supply curve.