Explain why each of the following statements shows move along the demand curve or a shift of the demand curve. A. Apple cuts the price of its iPhone15 b. Vinyl comes back in fashion in the music industry c. An increase in the Federal minimum wage causes a drop in sales of fast food d. The Acme Company sees a sharp drop in sales after it doubles the price of its widgets

Brief Principles of Macroeconomics (MindTap Course List)
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Chapter4: The Market Forces Of Supply And Demand
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Q8: Explain why each of the following statements shows move along the demand curve or a shift of the demand curve.

A. Apple cuts the price of its iPhone15

b. Vinyl comes back in fashion in the music industry

c. An increase in the Federal minimum wage causes a drop in sales of fast food

d. The Acme Company sees a sharp drop in sales after it doubles the price of its widgets

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