A change in all of the following variables will change the market demand for a product except:

• A. Consumer tastes and preferences
• B. Prices of related goods
• C. Consumer income
• D. The price of the product itself

Answer: (D)

Verified step by step guidance

1. Understand the difference between 'market demand' and 'quantity demanded'. Market demand refers to the total demand for a product at various prices, while quantity demanded refers to the amount consumers want to buy at a specific price.
2. Recall that a change in the price of the product itself causes a movement along the demand curve, which changes the quantity demanded, not the demand curve itself.
3. Identify factors that shift the demand curve (market demand) such as consumer tastes and preferences, prices of related goods (substitutes or complements), and consumer income. These factors change demand at every price level.
4. Recognize that changes in the price of the product cause movements along the existing demand curve rather than shifting the demand curve, so they do not change market demand.
5. Conclude that among the options given, the price of the product itself does not change market demand but changes quantity demanded, which is why it is the correct answer.