The growing popularity of energy conservation has enticed large home improvement stores like Home Depot and Lowes to offer tankless water heaters
How does the fact that home improvement stores now offer these products affect the tankless water heater market?
A) The demand curve for tankless water heaters shifts to the left.
B) The supply curve for tankless water heaters shifts to the left.
C) The supply curve for tankless water heaters shifts to the right.
D) The demand curve for tankless water heaters shifts to the right.
C
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If a teacher tells a student that those who attend the study session typically score higher on the final exam,
A) the student has a positive incentive to attend the study session because she may get a higher grade. B) the student has a negative incentive to attend the study session because she will be punished if she does not go. C) the student has no greater incentive to attend because there is no guarantee she will get a higher grade on the exam. D) a "C" student will be making an irrational decision if she decides to skip the study session since she has plenty of time to go.
The substitution effect refers to a change in the actual income of a potential consumer
a. True b. False Indicate whether the statement is true or false