Asked by Yadelis Carmona gonzalez on Jul 03, 2024

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Which of the following events would cause a movement upward and to the left along the demand curve for olives?

A) The number of people who purchase olives decreases.
B) Consumer income decreases, and olives are a normal good.
C) The price of pickles decreases, and pickles are a substitute for olives.
D) The price of olives rises.

Demand Curve

A chart that illustrates how the quantity of a product demanded by customers correlates with its price.

Normal Good

A product whose demand increases when people's incomes increase, and falls when incomes decrease, all else being equal.

Olives Price

The market price at which olives are bought and sold, which can vary based on factors such as quality, origin, and market demand.

  • Analyze the effects of price changes on demand and supply, including movements along and shifts of curves.
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ZK
Zybrea KnightJul 06, 2024
Final Answer :
D
Explanation :
A movement upward and to the left along the demand curve for a good, such as olives, indicates a decrease in quantity demanded due to an increase in the price of the good itself. This is directly described in option D, where the price of olives rises, leading to a decrease in the quantity demanded, assuming all other factors remain constant.