The above figure shows the market for pizza. Which figure shows the effect of an increase in the price of a complement such as soda?
A) Figure A
B) Figure B
C) Figure C
D) Figure D
B
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Which of the following chain of events occurs when a tariff is imposed on a good?
A) Domestic prices fall, shifting the demand curve rightward, and consumers buy more of the good. B) Domestic prices fall, decreasing the domestic quantity supplied and increasing the quantity demanded. C) Domestic prices rise, shifting the domestic supply curve rightward. D) Domestic prices rise, shifting the demand curve leftward and the domestic supply curve rightward. E) Domestic prices rise, decreasing the quantity demanded and increasing the domestic quantity supplied.
Hyperinflation is caused by
A) the money supply growing more slowly than GDP. B) Real GDP growing more rapidly than the money supply. C) a constant increase in the money supply. D) a high rate of growth in the money supply.