Some nonprice determinants of demand are:
A. consumer preferences, expectations of future prices, and the number of buyers in the market.
B. consumer preferences, the price of the good, and incomes.
C. incomes, expectations of future prices, and the number of sellers in the market.
D. prices of related goods, knowledge of past prices, and the number of buyers in the market.
A. consumer preferences, expectations of future prices, and the number of buyers in the market.
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Draw the point of consumer equilibrium from an indifference map and budget line. Explain why this is the point of optimization. Be sure your diagram is fully and correctly labeled.
What will be an ideal response?
According to your text, the annual cost of regulation (federal, state and local) in the United States is estimated to exceed ________ per year
A) $500 million B) $900 million C) $50 billion D) $1 trillion
Which country has the highest unemployment rate?
a. Spain b. Germany c. Sweden d. France
Which of the following is not a primary determinant of consumption spending?
A. Wealth B. Rate of return on capital C. Real income D. Interest rates on savings