Refer to Figure 3-1. An increase in population would be represented by a movemen

Question

Refer to Figure 3-1. An increase in population would be represented by a movement from D_2 to D_1. D_1 to D_2. A to B. B to A. Refer to Figure 3-1. A decrease in taste or preference would be represented by movement from A to B. D_1 to D_2. D_2 to D_1. B to A. Refer to Figure 3-1. If the product represented in an interior good, an increase would be represented by a movement from A to B. D_1 to D_2. D_2 to D_1. B to A. Refer to Figure 3-1. A decrease consumption of bananas when the price of peanut butter increased. For Elvira, peanut butter and bananas are Complements in consumption. substitutes in consumption. both luxury goods. both interior goods. During the recession of 2007-2009, despise felli8ng income levels. the fast-food chain subway experienced increased sales. The increase in demand for subway sandwiches despite the decline in income indicates that subway sandwiches are considered substitute goods. interior goods. normal goods. complementary goods. Write "T" for the statement is true and "F" for the statement is false: If consumers believe the period of iPads will decrease in the future, this will cause the demand the iPads to decrease now.

Explanation / Answer

36. B.D1to D2 as population increase people will demand more. So, demand curve shift outwards from D1 to D2.

37. C. D2 to D1, as preferences decrease demand also decreases.

38.c D2 to D1, there is inverse relationship between income and inferior good.

39.A. A to B due to law of demand.

40. A. Complementary goods

41.B. inferrior good

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