Which of the following would cause a shift in the demand curve from point A to point B?
A. a decrease in income (inferior good)
B. an increase in the price of a substitute good
C. an increase in income (normal good)
D. all of the above
Ans: D. all of the above
Economics
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The cross-price elasticity between a pair of complementary goods will be
A) positive. B) negative. C) zero. D) positive or zero depending upon the strength of the relationship.
Economics
A producer can raise profit by expanding output if his:
a. marginal revenue is equal to marginal cost. b. marginal revenue is less than marginal cost. c. marginal revenue is negative. d. marginal cost is negative. e. marginal revenue is greater than marginal cost.
Economics