Identify the non-price determinants that create changes in demand and can cause a shift in the demand curve
What will be an ideal response?
They are factors that can lead to the shifting of demand up or down. Non-price determinants include income, consumer expectations, population, demographics, and consumer tastes and advertising.
You might also like to view...
The long-run average cost of production is defined as:
A. total cost divided by the quantity of output the firm chooses when at least one factor is fixed. B. total cost divided by the quantity of output the firm chooses when it can choose a production facility of any size. C. the quantity produced by a firm that can choose any size production facility. D. the quantity produced by a firm when at least one factor is fixed.
The smaller the fraction of an investment financed by borrowing,
A) the smaller the potential return and the greater the potential loss on that investment. B) the greater the potential return and potential loss on that investment. C) the greater the potential return and the smaller the potential loss on that investment. D) the smaller the potential return and potential loss on that investment.
Part of the deadweight loss from taxing labor earnings is that people
a. will work more. b. will be reluctant to hire accountants to file their tax returns. c. with low tax liabilities will universally be worse off than under some other tax policy. d. will work less.
Exhibit 36-1 Bond FaceValueof Bond Price ofthe Bond Annual CouponPayment A $1,000 $850 $25 B $1,000 $950 $41 C $1,000 $1,100 $52 D $1,000 $1,100 $32 E $1,000 $1,000 $50 Refer to Exhibit 36-1. The yield on bond D is approximately
A. 11 percent. B. 3.2 percent. C. 2.9 percent. D. 0.03 percent