Refer to the information provided in Figure 3.7 below to answer the following question(s).
?Figure 3.7Refer to Figure 3.7. If pizza and beer are complementary goods, an increase in the price of beer will cause a movement from Point B on demand curve D2 to
A. demand curve D1.
B. demand curve D3.
C. Point C on demand curve D2.
D. Point A on demand curve D2.
Answer: A
You might also like to view...
Which of the following is true of marginal revenue?
a. Marginal revenue equals total revenue divided by quantity. b. Marginal revenue is the slope of the supply curve of a firm. c. Marginal revenue is the slope of the total cost curve when profit is maximized. d. Marginal revenue equals the change in total revenue due to an additional unit of output. e. Marginal revenue equals the income earned by selling stocks on the margin.
Stagflation is a combination of ________ and ________.
A. deflation; expansion B. excessive aggregate spending; excessive aggregate supply C. inflation; recession D. monetary policy; fiscal policy
Judging from the table of the four types of goods, goods that are excludable would include ______.
a. pizzas and movie streaming
b. rainforest trees and street lighting
c. the atmosphere and rainforest trees
d. pizzas and street lighting
When does market equilibrium change in a given market?
What will be an ideal response?