Which of the following best represents the effects of a decrease in the price of coffee, other things being equal?
a. A leftward shift in the demand curve for coffee.
b. A downward movement along the demand curve for coffee.
c. A rightward shift in the demand curve for coffee.
d. An upward movement along the demand curve for coffee.
b
You might also like to view...
What are the implications for economic growth for countries specializing in consumer goods rather than capital goods? Assume the countries consume what they produce
What will be an ideal response?
Equilibrium price is _____ and equilibrium quantity is ______ units.
A. $12; 20
B. $12; 30
C. $20; 20
D. $20; 30
What quantity should the purely competitive firm produce to maximize profits? Analyze from a total revenue and total cost perspective and a marginal revenue and marginal cost perspective
What will be an ideal response?
The immediate primary cause of the swing from federal budget surpluses in 2000 and 2001 to a budget deficit in 2002 was:
A. the tax cuts of 2001. B. spending increases relating to the wars in Afghanistan and Iraq. C. the recession of 2001. D. the acceleration of inflation in 2001 and 2002.