Doug is a manager of a local supermarket. In an attempt to gain a better understanding of fruit sales in the store, he monitors the sales of blueberries across the year. In January, at a price of $4.50 per punnet, 100 blueberry punnets are sold daily. In July at the same price 75 punnets are sold. In September, at the same price, 250 punnets are sold daily. Which of the following statements are true: From January to September there has been a decrease in the quantity demanded. From January to July, there has been an increase in the quantity demanded due to a change in consumer preferences. From July to September there has been a decrease in demand. From July to September there has been an increase in demand.

Doug is a manager of a local supermarket. In an attempt to gain a better understanding of fruit sales in the store, he monitors the sales of blueberries across the year. In January, at a price of $4.50 per punnet, 100 blueberry punnets are sold daily. In July at the same price 75 punnets are sold. In September, at the same price, 250 punnets are sold daily. Which of the following statements are true: From January to September there has been a decrease in the quantity demanded. From January to July, there has been an increase in the quantity demanded due to a change in consumer preferences. From July to September there has been a decrease in demand. From July to September there has been an increase in demand.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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