Which of the following would not shift the demand curve for pork?
a. an increase in the price of beef
b. an increase in the price of pork
c. an increase in the incomes of pork consumers
d. a widespread advertising campaign for pork
e. a finding that consumption of beef increases the risk of heart attack
B
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The above table shows Homer's marginal utility from consuming various quantities of chocolate chip cookies and cake. The price of cookies is $2 per pound, the price of cake is $2 per slice and Homer has $12 to spend on cookies and cake
Homer will consume ________ of cookies and ________ of cake. A) 1 pound; 5 slices B) 2 pounds; 4 slices C) 3 pounds; 3 slices D) 5 pounds; 2 slices
In the labor negotiation game:
a. Neither party prefers bargaining hard b. Neither party prefers accommodating the other c. Both parties bargain hard in the Nash equilibrium d. Neither party knows what the equilibrium will be.
If the cross price elasticity of demand between two commodities is positive, then these commodities are
A. are complements. B. are substitutes. C. are inferior. D. are superior.
An increase in the money supply is likely to reduce:
A. The general price level B. Nominal income C. Money demand D. Interest rates