All else equal, the decrease in consumer preference predicted by Apple for its iPhone 5 would be represented by a
A) shift in the supply curve for iPhones to the right.
B) shift in the supply curve for iPhones to the left.
C) shift in the demand curve for iPhones to the right.
D) shift in the demand curve for iPhones to the left.

Question

Quizplus · Accepted Answer

A decrease in consumer preference for the iPhone 5 would result in a decrease in demand for the product, which is represented by a leftward shift in the demand curve. Therefore, the correct answer is D. A shift in the supply curve would relate to factors such as changes in production costs or technology advancements, and is not related to changes in consumer preferences.

All Else Equal, the Decrease in Consumer Preference Predicted by Apple