B: Look at the table below which refers to the market for taxi journeys: Change Shift/Movement along and explanation A rise in the price of bus journeys A desire by consumers for more convenient journeys An increase in average real incomes of citizens
B: Look at the table below which refers to the market for taxi journeys: Change Shift/Movement along and explanation A rise in the price of bus journeys A desire by consumers for more convenient journeys An increase in average real incomes of citizens
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
Problem 8P
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Question
B: Look at the table below which refers to the market for taxi journeys:
Change |
Shift/Movement along and explanation |
A rise in the |
|
A desire by consumers for more convenient journeys |
|
An increase in average real incomes of citizens |
|
A decision by local government to cut night bus services |
|
An increase in the number of people attending a town’s night-time theatre performances |
|
In the right-hand column, state whether the change will cause a shift or a movement along the
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