In deriving the demand schedule for a good, economists assume that
A) consumers have equal incomes to allocate among goods.
B) a consumer will allocate all of her income to one good.
C) all other influences on demand except the product price are held constant.
D) reported income changes at each point on the demand schedule.
Answer: C
Economics
You might also like to view...
Which of the following is a dynamic game?
A) rock-paper-scissors B) flipping pennies C) chess D) the card game "war"
Economics
When someone is both poor and old, they are on
A. Medicare only. B. Medicaid only. C. a separate program called "Eldercaid." D. both Medicare and Medicaid.
Economics