As Sandi's income rises, her demand for popcorn rises. As Mark's income falls, his demand for prepaid telephone cards rises. What kinds of goods are popcorn and telephone cards for the people who demand each?

Q: coke and pepsi are substitute goods. if the price of coke skyrockets, then the demand for pepsi…

A: Two goods are said to be substitute goods when one good can be used in place of other. Price and…

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A: Dear student,  As the question contains multiple sub parts. I am going to answer first three sub…

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A: Change in demand implies that the demand curve is either shifting to the right or left. This occurs…

Q: Tomato sauce is a compliment for hot dogs. If the price of hot dogs rises, what happens to the…

A: Since tomato sauce is a compliment for hot dogs they both used together. When the price of hot dogs…

Q: Popeye's income declines, and as a result, he buys more spinach. Is spinach an inferior or a normal…

A: Normal goods are those good which increases the demand for good when the income of the consumer…

Q: A change in which of the following will cause a change in the quantity demanded of coffee? Group of…

A: Change in quantity demanded and change in demand are two different concepts of economics. The change…

Q: Give an example of substitutes. What will happen to the demand for each of the price of one rises?

A: When talking about substitute goods, there are the products that cannot be consumed together as one…

Q: If Goods A & B are complements, and increase in the price of Good B will:

A: Goods are complements means that two goods are used together in some specified proportions like like…

Q: If computers are like most goods and the price of computers chips fall, then holding all else…

A: Answer: A decrease in the cost of inputs leads to an increase in the supply of a good. As a result,…

Q: Consider the demand for hamburgers. If the price of a substitute good (for example, hot dogs)…

A: The goods which can be used in place of each other are known as perfect substitutes. The goods which…

Q: When you make a graph of a supply curve, what do you measure on the y-axis? How does Aqua's quantity…

A: A supply curve shows the relationship between the quantity supplied and the price of the good. The…

Q: Use the supply and demand curve to illustrate how each of the following events follows the price of…

A: The measure that is being used to depict the quantity of a service or product which a consumer…

Q: What effect will each of the following have on the demand for small automobiles such as the Mini…

A: The demand and supply mechanisms help in the form of invisible forces and affect the economy and its…

Q: As Sandi’s income rises, her demand for popcorn rises. As Mark’s income falls, his demand for…

A: Normal goods: Those goods whose demand increases with increase in income and falls with fall in…

Q: DRAW THE DEMAND CURVE AND LIST FOUR THINGS TO SHIFT THE CURVE TO THE LEFT-

A: Four things that shift demand curve 1)Taste of consumers If taste of consumers for certain product…

Q: Presently the real income of households are decreasing what do you think will happen to the demand…

A: Goods for which the demand moves in the same direction as the income of the individual are normal…

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A: Demand curve(DD) shows the relationship b/w the quantity demanded(Qd) and the price(P) of a good.…

Q: Sometimes the demand may be abnormal, meaning that the law of demand does not apply to the…

A: According to the law of demand, other things being equal, if there is an increase in the price of…

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A: law of demand refers to the inverse relationship between price and quantity demanded keeping all…

Q: Explain, with the aid of a graph, the effect of an increase in income on the equilibrium price and…

A: Meaning of Inferior Good: The term inferior good refers to a negative or inverse relationship…

Q: Choose the right answer: 1. In drawing an individual’s demand curve for a commodity, all but which…

A: NOTE: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: Which of the following will cause a movement when looking at an individual’s demand curve?…

A: While a change in price causes a movement along the existing demand curve, a change in non-price…

Q: Discuss the effect of each of the following to a couple’s demand for children and other goods: a.…

A: Demand is an economic concept that refers to a consumer's desire to buy products and services as…

Q: Does a change in price lead to movement along the demand curve or to a shift in the demand curve?…

A: A movement (upward or downward) along the demand curve has occurred when the price of given good…

Q: Will an increase in the price of a complementary good outwardly shift the demand curve?

A: Complementary Goods:- Complementary goods are those goods whose demand decreases when price of other…

Q: The law of demand implies that, other things remaining the same,A) as the demand for cheeseburgers…

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Q: What happens to demand for normal goods when income of people decrease

A: Demand is the total goods and services that the consumers are willing to buy at different prices.

Q: Carefully explain why an increase in the price of commodity X will not result, ceteris paribus, in a…

A: In a market, there are various  determinants that influence the demand for a good such that income…

Q: Sohail’s income declines and as a result, he buys more pumpkin juice. Is pumpkin juice an inferior…

A: As Sohail buys more pumpkin juice as his income declines, here pumpkin juice is an inferior good.…

Q: When the price of chicken unexpectedly rises, many consumers choose to purchase corned beef…

A: Substitute goods are those goods whose elasticity is positive. It is the product which is used as…

Q: Cheese and buns are complements. Which of the following is true if cheese becines less expe sive?…

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Q: Discuss fully the effect of each of the following to a couple’s demand for children and other goods.…

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Q: The law of demand implies that, other things remaining the same,   A) as the price of a…

A: The law of demand states that the amount wanted is always inversely proportionate to the price of…

Q: What relationship does a downward-sloping demand curve illustrate? the inverse relationship between…

A: The law of demand is an important concept in economics. It states how the price of a good and the…

Q: What will happen to demand curve for normal goods when there is rise in price of substitute goods

A: A replaceable good is a commodity or service that buyers perceive to be exactly the identical as or…

Q: Which of the following may lead to a rise in the equilibrium price of iPhones and a fall in the…

A: Goods can be divided into substitute goods, complementary goods or they can be unrelated. Two goods…

Q: In not more than six (6) sentences and assuming ceteris paribus (all other things being equal),…

A: Demand is the willingness and ability of a consumer to pay for a good or a service. Law of demand…

Q: Does a change in consumers’ tastes lead to a movement along the demand curve or to a shift in the…

A: Law of demand states that there is a negative relation between price of a good and its quantity…