Junie is shopping for dinner. She picks up a package of hot dogs on sale, instead of the burgers she was intending to buy. She then heads over to buy a package of hot dog buns. Junie's change in the demand for hot dog is due to a change in:

A. Junie's preferences.
B. Junie's income.
C. the price of related goods.
D. Junie's expectation of future prices.


Answer: C

Economics

You might also like to view...

Define the nominal interest rate and the real interest rate. Discuss the relationship between the nominal interest rate and the real interest rate

What will be an ideal response?

Economics

All of the following observations concerning the elasticity formula are true except

A. the changes with which it deals is measured as a percentage change. B. each of the percentage changes is calculated in terms of the average values. C. the calculation considers both positive and negative signs. D. each percentage change is taken as an “absolute value.”

Economics

For a firm in a perfectly competitive industry,

A) both short-run and long-run economic profits may be negative.
B) short-run economic profits must be zero.
C) short-run economic profits may be positive, but long-run economic profits must be zero.
D) short-run and long-run economic profits must be zero.

Economics

What are the three noteworthy labor market trends that Americans have experienced for about two decades?

What will be an ideal response?

Economics