Question

Other things being equal, the effects of an increase in the price of orange juice would best be represented by a(n):

1) upward movement along the demand curve for orange juice.
2) leftward shift in the demand curve for orange juice.
3) downward movement along the demand curve for orange juice.
4) rightward shift in the demand curve for orange juice.

Answer 1

An increase in the price of orange juice would be best represented by a leftward shift in the demand curve for orange juice.

Step-by-step explanation:

The effects of an increase in the price of orange juice would best be represented by a leftward shift in the demand curve for orange juice. When the price of orange juice increases, consumers may choose to buy less of it, causing a decrease in demand. This decrease in demand is represented by a leftward shift in the demand curve.