Managerial Economicsintermediate
Select ALL variables identified as demand shifters in the course material.
Answer
Consumer income, Tastes, Prices of related goods
Explanation
### Why this is right
Income, tastes, and prices of related goods can change how much buyers want at each own price, shifting demand.
### The concept
A demand shift means the whole relationship between own price and quantity demanded changes. A change in the good's own price instead causes movement along the existing demand curve.
### The other options
- **D. The good's own price**: It changes quantity demanded along the curve, rather than shifting the curve itself.
### Remember
Ask whether the change is in own price or another determinant.
Related Questions
- Which description best defines managerial economics?(basic)
- Under the SMARTTS framework, an objective with a stated deadline is _____.(basic)
- An increase in income always moves a consumer to a different point on the same demand curve.(intermediate)
- A price above equilibrium creates excess demand and tends to push price upward.(basic)
- What does a production function represent?(basic)
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