Which is an example of market size affecting demand?
a. Restaurant visits drop after a hurricane causes a city to be evacuated.
b. A computer chip maker moves to a town and hires hundreds.
c. After a team wins the World Series, it becomes a fad to buy their caps.
d. Sales of potato chips drop after the price of pretzels falls by half.
Ans: a. Restaurant visits drop after a hurricane causes a city to be evacuated.
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Making the buying and selling of a good illegal shifts the demand curve ________ and shifts the supply curve ________
A) rightward; rightward B) rightward; leftward C) leftward; rightward D) leftward; leftward
When the nominal exchange rate falls
A) the domestic currency buys more units of foreign currency and the domestic currency has depreciated. B) the domestic currency buys fewer units of foreign currency and the domestic currency has depreciated. C) the domestic currency buys more units of foreign currency and the domestic currency has appreciated. D) the domestic currency buys fewer units of foreign currency and the domestic currency has appreciated.
The supply of U.S. dollars in the foreign exchange market originates from
A. Demand for U.S. dollars for speculative purposes. B. American demand for imported goods. C. Demand by foreigners for U.S.-produced goods. D. Foreign investments in America.
While waiting in line to buy two tacos at 80 cents each and a medium drink for 90 cents, Jordan notices that the restaurant has a value meal containing three tacos and a medium drink all for $3 . For Jordan, the marginal cost of the third taco would be:
a. zero. b. 50 cents. c. 80 cents. d. $1.