If the price of hamburger increases, it would probably result in ________ in the demand for hamburger buns.
A) a decrease
B) an increase
C) no change
D) random fluctuations
Ans: A) a decrease
Economics
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Many U.S. consumers have switched to wireless phones from traditional telephones. Which factor is affecting demand?
a. income b. market size c. complements d. substitutes
Economics
If the consumption schedule is a straight line, it can be concluded that the:
A. APC is necessarily constant B. MPC is zero C. MPC is constant at various levels of income D. APC is equal to the MPC
Economics