________: shift in the demand curve caused generally by changes in the prices of complements or substitutes, income, and tastes and preferences
Fill in the blank(s) with correct word
Change in demand
Economics
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Consider the market for peanut butter. If there is an increase in the price of peanuts,
A) there is a decrease in the supply of peanuts. B) there is a decrease in the demand for peanut butter. C) there is an upward movement along the supply curve for peanut butter. D) there is a decrease in the supply of peanut butter. E) the supply curve for peanuts shifts rightward.
Economics
In the figure above, if the minimum wage rate is $8 per hour, then after taking account of resources lost in job search, the workers' surplus is the area ________ and the firms' surplus is the area ________
A) e; c B) d; b C) a; f D) f; a E) a + b + c + d + e; f
Economics