How do you decide whether to change a point on demand curve or to shift the whole curve?

Changes in price mean a shift along the curve, changes other than the price of a good (e.g. change in price of a substitute good) shift the demand curve. 

MJ

Related Economics A Level answers

All answers ▸

Define collusion, including a brief explanation of the different types of collusion, and explain why firms in an oligopolistic market would want to collude.


What is a Pigouvian Tax?


Explain some benefits of a Monopoly


Describe how a competitive market would react to excess supply.