Which of the following best represents the effects of a decrease in the price of tomato juice, other things being equal?
a. An upward movement along the demand curve for tomato juice.
b. A downward movement along the demand curve for tomato juice.
c. A rightward shift in the demand curve for tomato juice.
d. A leftward shift in the demand curve for tomato juice.
b
You might also like to view...
The figure above shows Ronald's budget line. He has a weekly income of $20, which he spends on hotdogs and hamburgers. Ronald's real income in terms of hamburgers ________
A) depends on the quantity of hamburgers consumed B) depends on the quantity of hotdogs consumed C) is $20 D) is 10 hamburgers
Improvements in literacy stimulate economic growth by: a. reducing the barriers to the flow of information
b. improving the flow of resources to more productive uses. c. imparting skills, which raises labor productivity. d. doing all of the above.
Give two examples of economic indicators, each of a different type (leading, coincident, or lagging). Explain what type of economic indicator it is and how it is used to analyze economic activity.
What will be an ideal response?
In the above table, what is the marginal utility of the fourth hotdog consumed?
A. 120 B. 130 C. 30 D. 10