Which of the following will cause the demand curve for good Y to shift to the right? O An increase in the supply of good Y O An increase in consumers' incomes, if good Y is an inferior good O An increase in the price of good A, a complement to good Y O An increase in the price of good Z, a substitute for good Y O A decrease in the price of good Y

Which of the following will cause the demand curve for good Y to shift to the right? O An increase in the supply of good Y O An increase in consumers' incomes, if good Y is an inferior good O An increase in the price of good A, a complement to good Y O An increase in the price of good Z, a substitute for good Y O A decrease in the price of good Y

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 17P: If a 10 decrease in the price of one product that you buy causes an 8 increase in quantity demanded...

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If macaroni and cheese is an inferior good and an increase in consumer income occurs, then which of the following statements is TRUE? Select one: O a. At a given price, more will be spent on macaroni and cheese. O b. There will be an increase in demand for macaroni and cheese. Oc The demand curve for macaroni and cheese will shift farther away from the origin. Od. There will be a decrease in demand for macaroni and cheese.
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When economists say the quantity demanded of a product has increased, they mean the demand curve has shifted to the left. demand curve has shifted to the right. O price of the product has fallen, and consequently, consumers are buying more of it. price of the product has risen, and consequently, consumers are buying less of it.
|Unit 3 Midterm Economics A docs.google.com/forms/d/e/1FAlpQLSfDzcagnpq9EUKBs3AWMb. a change in quantity demanded for one product or service causes a change in simple demand for a related product or service. * In 2. O Elasticity of Demand O Cross Elasticity of Demand O Diminishing Marginal Utility O Cost-Benefit Analysis O All of These O None of These The rules of the price system operate in all markets of a capitalist/market economy. The market where consumers earn income Market. by selling resources to business resources is called O Consumer
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If a 10 decrease in the price of one product that you buy causes an 8 increase in quantity demanded of that product, will another 10 decrease in the price cause another 3 increase (no more and no less) in quantity demanded?
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QUESTION 16 If frozen food is an inferior good then O an increase in income causes an increase in quantity demanded, shifts Supply curve to the right. O an increase in income causes an increase in quantity demanded, shifts Demand curve to the right. O an increase in income causes a decrease in quantity demanded, shifts Supply curve to the left. O an increase in income causes a decrease in quantity demanded, shifts Demand curve to the left.