Which of the following statements are correct? Select one: a. A fall in the oil price would shift up (left) the supply curve for plastics. b. The launch of a new Samsung smartphone would shift up the demand curve for existing iPhones. c. A fall in the oil price would shift up the demand curve for oil. d. A fall in the mortgage interest rate would shift up the demand curve for new houses.

Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter8: Understanding Markets And Industry Changes
Section: Chapter Questions
Problem 9MC
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Which of the following statements are correct?

Select one:
a.

A fall in the oil price would shift up (left) the supply curve for plastics.

b.

The launch of a new Samsung smartphone would shift up the demand curve for existing iPhones.

c.

A fall in the oil price would shift up the demand curve for oil.

d.

A fall in the mortgage interest rate would shift up the demand curve for new houses.

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