Economics · Demand and Supply
Which of the following statements is NOT correct regarding the shifting of the demand curve?
- 1The market demand curve of a normal good will shift rightward if complementary goods become more expensive.✓
- 2The market demand curve of a normal good shifts leftward if the price of substitute goods falls.
- 3The market demand curve of a normal good shifts rightward if the price of complementary goods falls.
- 4The market demand curve of a normal good will shift rightward if the population increases.
Correct answer
The market demand curve of a normal good will shift rightward if complementary goods become more expensive.
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