An increase in the price of a substitute good will shift the demand curve for a good to the right
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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In a negative income tax program, the higher the income earned, the higher will be the family's after-tax income
Indicate whether the statement is true or false
Economics
Scientific evidence suggests that consumption of foods rich in fiber lowers cholesterol. As a result, the demand for bran increases at every price by 5,000 bushels and the supply curve for bran is perfectly price elastic. The quantity of bran consumed will
a. not change. b. change unless the demand curve is perfectly inelastic. c. rise by exactly 5,000 bushels. d. not rise by exactly 5,000 bushels unless the demand curve is perfectly inelastic.
Economics