d. The marginal value of Y OA. falls because the price fell, even though there has been no change in their preferences regarding Y. OB. is unchanged since demand did not shift. OC. is unchanged even though the price fell, since there has been no change in their preferences regarding Y. OD. falls since the price fell, indicating a change in their preferences regarding Y.

Q: Explain all options pls....

A: The objective of the question is to identify which demand curve among D1, D2, and D3 represents the…

Q: A market demand curve is found by O studying census data. summing the quantities demanded by all…

A: A market demand curve represents the total quantity demanded of a good by all the individuals in the…

Q: What kind of good would x₁ have to be in order for this cross-price demand curve to slope down? Pa…

A: Cross-price elasticity of demand measures the responsiveness of the quantity demanded of one good to…

Q: Assume the market for gruel again, which recall is an inferior good. Suppose consumer income…

A: The characteristics of inferior goods contradict the characteristics stated by the law of demand. In…

Q: 11. If two goods are complements, this means that a rise in the price of one commodity will induce

A: To find : What will rise in price of commodity will include.

Q: When the price of product A changes, we illustrate this with a movement along the demand curve for…

A: Th following graph shows that as the price of the commodity increases all other factors (income,…

Q: If a good is "inferior," what will a decrease in income result in? O a. no change in the demand for…

A: Inferior good : An inferior good is that good for which the income effect is negative. It means that…

Q: Assuming Demand is downward sloping and Supply is upward sloping (as we usually do), what happens to…

A: The term balance in economics matters can be expressed as a place of rest or strength from where…

Q: If supply increases, this means suppliers are willing and able to offer less of the good for sale at…

A: There is positive relationship between supply and price of the product. As the price increases the…

Q: Use the following general linear demand relation to answer the next question: Qd=100-5P+0.004M-5PR.…

A: A normal good is an economic term used to describe a type of commodity or service for which demand…

Q: In the market for a normal good, an increase in income will cause an increase in _____, an increase…

A: Normal goods are a type of good that the demand and income are positively related. So it has a…

Q: If the cross-price elasticity of demand is -3, then OA. the goods are substitutes OB. one good is…

A: Cross price elasticity of demand tells the relationship between the two goods, i.e., whether they…

Q: An increase in demand could arise from which of the following factors Select one: O a. O b. OC. O d.…

A: Demand for a product refers to the amount of a good that the consumer is willing and able to…

Q: Select one: O a. graphical representation of the demand schedule. o b. graphical representation of…

A: Demand curve is a denand schedule.

Q: An increase in the price of a substitute shifts the demand curve to the: O Right O Left O It does…

A: When the two goods are substitutes, the goods yield almost the same level of satisfaction. So goods…