Consider the demand curves for soft drinks shown in the figure above. Suppose the economy is at point a. What of the following could result in a movement to point b?
A) an increase in the price of bottled water
B) a decrease in the price of bottled water
C) an increase in the opportunity cost of soft drinks
D) a decrease in the relative price of a soft drink
A
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In recent years, redistribution has been the fastest growing category of federal government outlays
a. True b. False
A change in net taxes affects the equilibrium quantity of GDP demanded_____
a. in the same way as a change in government purchases does b. in the same way as a change in planned investment does c. in the same way as a change in net exports does d. only indirectly, changing the level of disposable income e. in an unpredictable manner
A profit-maximizing monopolist operates where demand is: a. inelastic
b. unit elastic. c. elastic. d. infinitely elastic.
According to economists Hamermesh and Biddle, how much more do people who are deemed more attractive than average earn?