Answer to Question #237345 in Economics for CCW

Question

Demand Worksheet: (pick one)

3) Which way will the demand curve shift? (left/right) Draw the new demand curve

Link:

https://drive.google.com/file/d/1qbZa_pvi8QR968bHxJI_ZYesTmbIA5ED/view?usp=drivesdk

Answer 1

The demand curve will shift rightwards if there is a positive change in tastes, decrease in price of complement goods or increase in price of substitutes, increase in income etc.

The demand curve will shift leftwards, if there is a negative change in tastes, increase in price of complement goods or decrease in price of substitutes, decrease in income etc.