You have a dog walking business and suddenly have 12 new customers. You decide to charge more than you previously did because of this increase. This change in demand has caused a change in what area and why?(1 point)

Question

You have a dog walking business and suddenly have 12 new customers. You decide to charge more than you previously did because of this increase. This change in demand has caused a change in what area and why?(1 point)
Responses

This change in demand for dog walkers has caused a change in credit because you have to borrow money for leashes.
This change in demand for dog walkers has caused a change in credit because you have to borrow money for leashes.

This change in demand for dog walkers has caused a change in service because you now walk more dogs.
This change in demand for dog walkers has caused a change in service because you now walk more dogs.

This change in demand for dog walkers has caused a change in labor because you have to hire your sister to help.
This change in demand for dog walkers has caused a change in labor because you have to hire your sister to help.

The change in demand for dog walkers has caused a change in price because demand outweighs supply.

GPT-4o mini · Answer

The correct response is: **The change in demand for dog walkers has caused a change in price because demand outweighs supply.** This option directly addresses the economic principle that when demand increases and supply does not keep pace, it often results in a rise in prices.