Which of the following changes will occur to the market for movie tickets when the price of the tickets rises
A. The demand curve will shift out, causing the price to increase and the quantity to decreases.
B. The demand curve will shift out, causing the price to increase and the quantity to increases.
C. The demand curve will shift in, causing the price to decrease and the quantity to increases.
D. The demand curve will not shift, since the price of the tickets changed. Instead, given the law of demand, the quantity-demanded of the tickets will be reduced.
Answer: D. The demand curve will not shift, since the price of the tickets changed. Instead, given the law of demand, the quantity-demanded of the tickets will be reduced.
You might also like to view...
Positive statements can contain
A) opinions and conditions. B) facts and predictions. C) a mixture of facts and opinions. D) logical arguments mixed with statements of opinion.
The WTO functions as:
A. The enforcer of trade rules for the world. B. An international informant on terrorism. C. An international weapons inspector. D. The international authority on currency exchange.
The process through which an economy's production possibilities curve shifts outward is:
A. full-employment management. B. investment. C. resource renewal. D. out-resourcing.
The Securities and Exchange Commission and the Federal Aviation Administration are examples of agencies engaged in
A) the regulation of natural monopolies. B) the regulation of nonmonopolistic industries. C) social regulation. D) health and safety regulation.