Table of contents

Skip topic navigation

0. Basic Principles of Economics1h 5m
1. Reading and Understanding Graphs59m
2. Introductory Economic Models1h 10m
3. The Market Forces of Supply and Demand2h 26m
4. Elasticity2h 26m
5. Consumer and Producer Surplus; Price Ceilings and Floors3h 45m
6. Introduction to Taxes and Subsidies1h 46m
7. Externalities1h 12m
8. The Types of Goods1h 13m
9. International Trade1h 16m
10. The Costs of Production2h 35m
11. Perfect Competition2h 23m
12. Monopoly2h 13m
13. Monopolistic Competition1h 9m
14. Oligopoly1h 26m
15. Markets for the Factors of Production1h 26m
16. Income Inequality and Poverty35m
17. Asymmetric Information, Voting, and Public Choice39m
18. Consumer Choice and Behavioral Economics1h 16m

3. The Market Forces of Supply and Demand

Shifts in the Demand Curve

Microeconomics

3. The Market Forces of Supply and Demand

Shifts in the Demand Curve

Next problem

Struggling with Microeconomics?

Join thousands of students who trust us to help them ace their exams!Watch the first video

Multiple Choice

What happens in the market for blenders if consumers decide that juicing their vegetables is better than blending their vegetables?

Demand shifts to the left

Demand shifts to the right

Supply shifts to the left

Supply shifts to the right

Next problem

Verified step by step guidance

Identify the key change in consumer preferences: Consumers now prefer juicing over blending.

Understand the impact of this change on the demand for blenders: A preference for juicing implies a decrease in the demand for blenders, as fewer consumers want to blend their vegetables.

Apply the concept of demand shift: A decrease in demand is represented by a leftward shift of the demand curve in the market for blenders.

Consider the supply side: Since the problem does not mention any changes in production costs or technology, the supply curve remains unchanged.

Conclude the market effect: The primary effect is a leftward shift in the demand curve for blenders, leading to a decrease in both the equilibrium price and quantity of blenders in the market.