Hot dogs and hot dog buns are complements. If the price of a hot dog falls, then Question 23 options:
A. the demand for hot dogs will increase.
B. the quantity demanded of hot dogs will decrease.
C. the demand for hot dog buns will increase.
D. the demand for hot dog buns will decrease.
C. the demand for hot dog buns will increase.
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What asset is created by government, not sold on financial markets, not issued by financial intermediaries, and is held directly by savers?
A) checkable deposits B) currency C) government bonds D) mortgages
Using Figure 2 below, suppose that the economy started at PAE2. A potential change that could cause the economy to go from PAE2 to PAE1 might be:
A. wealth level increases.
B. interest rates increase.
C. taxes decrease.
D. domestic income decreases.
When long-run average total cost increases as output increases, a firm experiences
a. diseconomies of scale b. economies of scale c. constant returns to scale d. decreasing marginal cost e. greater total cost in the long run than in the short run
Graphically, a kinked demand curve is
a. more elastic to the right of the kink than to the left b. more inelastic to the right of the kink than to the left c. more inelastic to the left of the kink than to the right d. present when there is a monopoly e. bowed-in or bowed-out, depending on the kink