B: Look at the table below which refers to the market for taxi journeys:ChangeShift/Movement along and explanationA rise in the price of bus journeys A desire by consumers for more convenient journeys An increase in average real incomes of citizens A decision by local government to cut night bus services An increase in the number of people attending a town’s night-time theatre performances In the right-hand column, state whether the change will cause a shift or a movement along the demand curve for taxi journeys and briefly explain why.

In a market, movement along the curve occurs due to own price change, while shift in a curve occurs…

Answered: B: Look at the table below which refers…

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

B: Look at the table below which refers to the market for taxi journeys:

Change	Shift/Movement along and explanation
A rise in the price of bus journeys
A desire by consumers for more convenient journeys
An increase in average real incomes of citizens
A decision by local government to cut night bus services
An increase in the number of people attending a town’s night-time theatre performances