Refer to the diagram and assume a single good. If the price of the good decreases from $6.30 to $5.70, consumer expenditure would:
A. decrease if demand were D 1 only.
B. decrease if demand were D 2 only.
C. decrease if demand were either D 1 or D 2 .
D. increase if demand were either D 1 or D 2 .
B. decrease if demand were D 2 only.
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The paper currencies of the U.S. are also called
A. U.S. government notes. B. Federal Reserve notes. C. Treasury bills. D. Treasury bonds.
If the income elasticity of demand for a Miami Dolphins season ticket is 2.34, then are Dolphins season tickets a normal or an inferior good?
What will be an ideal response?
Which of the following is a characteristic of a market economy?
A. Government ownership of the means of production B. Private property C. Distribution according to need D. Tradition determines the what, how, and for whom decisions
M1 includes savings accounts
a. True b. False Indicate whether the statement is true or false