Refer to the information provided in Figure 3.6 below to answer the question(s) that follow.
?Figure 3.6Refer to Figure 3.6. The number of DVDs Isabel rents per week decreases from 7 to 4. This is caused by
A. an increase in the price of popcorn which is a complement to DVDs.
B. a decrease in the streaming price of pay-per-view movies.
C. an increase in the rental price of DVDs.
D. a decrease in income if DVDs are a normal good.
Answer: C
You might also like to view...
"If an economy is producing at a point on its PPF, it has achieved allocative efficiency." True or false? Explain
What will be an ideal response?
J-curve effects following a devaluation are simply a theoretical issue with no real world importance
Indicate whether the statement is true or false
The United States has less income inequality than most other developed countries
a. True b. False Indicate whether the statement is true or false
All else equal, a decrease in the demand for oranges will lead to a(n) ________ in equilibrium price and a(n) ________ in equilibrium quantity.
A. decrease; decrease B. increase; decrease C. decrease; increase D. increase; increase