Question

An increase in the price of digital cameras will result in a(n):

A. Shift of the demand curve for digital cameras to the left
B. Decrease in the demand for digital cameras
C. Shift of the demand curve for digital cameras to the right
D. Movement up and to the left along the demand curve for digital cameras

Answer 1

An increase in the price of digital cameras will result in a movement up and to the left along the demand curve for digital cameras. So, the correct answer is option d.

Step-by-step explanation:

An increase in the price of digital cameras will result in a movement up and to the left along the demand curve for digital cameras. When the price of a good increases, the quantity demanded decreases along the demand curve. However, the overall demand curve itself does not shift, indicating that the demand for digital cameras remains the same, but at a lower quantity.

So, the correct answer is option d.