Other things being equal, the effects of a decrease in the price of orange juice, is represented by which of the following?
a. A rightward shift in the demand curve for orange juice.
b. An increase in the quantity demanded for orange juice.
c. A leftward shift in the demand curve for orange juice.
d. A decrease in the quantity demanded orange juice.
b
Economics
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Refer to Figure 10-2. When the price of ice cream cones increases from $2 to $3, quantity demanded decreases from 4 ice cream cones to 3 ice cream cones. This change in quantity demanded is due to
A) the fact that marginal willingness to pay falls. B) the price and output effects. C) the law of diminishing marginal utility. D) the income and substitution effects.
Economics
Australia has one of the most heavily subsidized agricultural sectors as a percentage of domestic GDP
Indicate whether the statement is true or false
Economics