Use this link to access approaite figure: http://www.youtube.com/watch?v=RwKi1J_

Question

 Use this link to access approaite figure: http://www.youtube.com/watch?v=RwKi1J_fG4E

This a multiple choice question, pick one answer (A-E)

3.

The figure above shows the demand for Restaurant Meals shifting in one direction and the demand for Delivery Meals shifting in another direction.  As a result of this shift,

 

A)

the price of Restaurant Meals rises while the price of Delivery Meals rises.

 

B)

the price of Restaurant Meals declines while the price of Delivery Meals declines.

 

C)

the price of Restaurant Meals declines while the price of Delivery Meals rises.

 

D)

that the price of Restaurant Meals and the price of Delivery Meals must add up to total income.

 

E)

the price of Restaurant Meals rises while the price of Delivery Meals declines.

 

 

 

 

 

 

3.

The figure above shows the demand for Restaurant Meals shifting in one direction and the demand for Delivery Meals shifting in another direction.  As a result of this shift,

 

A)

the price of Restaurant Meals rises while the price of Delivery Meals rises.

 

B)

the price of Restaurant Meals declines while the price of Delivery Meals declines.

 

C)

the price of Restaurant Meals declines while the price of Delivery Meals rises.

 

D)

that the price of Restaurant Meals and the price of Delivery Meals must add up to total income.

 

E)

the price of Restaurant Meals rises while the price of Delivery Meals declines.

Explanation / Answer

C D2 for restaurant meals shows a lower price, while D2 for delivery meals shows a higher price

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