Demand, Supply, Price Determination and Elasticity Practice Questions | University Admission Economics

University Admission Economics Exam

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In a competitive market for rice, the only change observed is that the price of rice falls. All other determinants (income, tastes, population, prices of related goods, expectations) remain unchanged. The correct description of the change in consumer behavior is

Select one option.

A rightward shift of demand for rice
A leftward shift of demand for rice
A movement along the demand curve for rice
A rightward shift of supply for rice
A movement along the supply curve for rice

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