Answered: S2 $4 E B. D2 D, nsider the market for…

S2 $4 E B. D2 D, nsider the market for laptops. Assume that laptops are ppens in the market for laptops if incomes decrease? 1) supply will shift from S1 to S2

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 31CTQ: Economists define normal goods as having a positive income elasticity. We can divide normal goods...

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Question

$ 4
B
D2
D,
Q
Consider the market for laptops. Assume that laptops are a normal good. What
happens in the market for laptops if incomes decrease?
1) supply will shift from S1 to S2
O 2) supply will shift from S2 to S1
3) demand will shift from D1 to D2
4) demand will shift from D2 to D1
E

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