The figure above shows the market for iPods. Which of the following shifts the demand curve from D0 to D2?
A) a decrease in the price of iPods
B) a decrease in the price of Zunes, a substitute for iPods
C) an increase in the price of iPods
D) a decrease in people's incomes if iPods are a normal good
E) a requirement that all students at universities have an iPod
B
Economics
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How are the nominal and real demands for money related to changes in the price level?
What will be an ideal response?
Economics
Which of the following is true of a competitive market? a. The rules of supply and demand do not apply to it
b. Buyers and sellers have little market power. c. Each buyer's or seller's effect on market price is substantial. d. Few sellers offer similar products.
Economics