Consider the case of complementary goods. An increase in the demand for peanut butter can be caused by a(n)
a. decrease in consumer income
b. increase in the price of jams, jellies, and preserves
c. decrease in the price of bread
d. drought in Georgia that destroyed 30 percent of the peanut crop
e. decrease in the price of bologna
C
You might also like to view...
Currently, the United States has an import quota on the amount of sugar that is allowed to be imported into the United States
What would happen to the price of sugar in the United States if the import quota was removed? What would happen to U.S. consumption and U.S. production of sugar?
The law of demand states that a lower price increases the amount of a commodity that people are willing to buy.
Answer the following statement true (T) or false (F)
Successful antitrust cases against monopoly have been rare in the last sixty years
Indicate whether the statement is true or false
Rent control laws are imposed when city officials believe landlords have been exploiting tenants. Which of the following criteria are they using to guide their actions?
A. growth B. stability C. efficiency D. equity