In the above figure, ________ will shift in the demand curve from D to D1
A) an increase in income if pizza is an inferior good
B) a decrease in the price of a sub sandwich, a substitute for pizza
C) buyers' expectation that pizza will be less expensive next week
D) a scientific article published that demonstrates eating pizza is good for one's health
E) a fall in the cost of producing pizza
D
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An economic system in which relative prices change to reflect changes in supply and demand for different commodities is known as a
A) socialist system. B) communist system. C) queuing system. D) market system.
A monopoly producer of a durable good:
a. can earn even greater profits than a producer of a non-durable. b. must consider competition from its own output decisions. c. will have higher marginal costs than most other monopolies. d. will not set marginal revenue equal to marginal cost.