Which of the following will not cause the demand for product K to change?
A. A change in the price of close-substitute product J.
B. An increase in incomes of buyers of product K.
C. A change in the price of product K.
D. A change in consumer tastes for product K.
Answer: C
Economics
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When the economy slips into a recession, normally the demand for bonds ________, the supply of bonds ________, and the interest rate ________, everything else held constant
A) increases; increases; rises B) decreases; decreases; falls C) increases; decreases; falls D) decreases; increases; rises
Economics
Whenever average cost exceeds marginal cost,
a. average cost is rising. b. average cost is falling. c. marginal cost is rising. d. marginal cost is falling.
Economics