In 2014, the total number of refrigerators demanded was 280,000 units at $200 per unit. The following year, this number increased to 300,000 units at the same price. Which of the following events could be a potential reason for the increase in demand? (Note: More than one option may be correct.) An increase in the price of laptops A fall in the price of electricity due to government subsidies The expectation that the cost of electronics will increase in the future due to new tax policies

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter4: Demand, Supply, And Market Equilibrium
Section: Chapter Questions
Problem 7P
icon
Related questions
Question
In 2014, the total number of refrigerators demanded was 280,000 units at $200 per unit. The following year, this number increased to 300,000 units at the same price. Which of the following events could be a potential reason for the increase in demand? (Note: More than one option may be correct.) An increase in the price of laptops A fall in the price of electricity due to government subsidies The expectation that the cost of electronics will increase in the future due to new tax policies
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Commodity Price
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Exploring Economics
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
MACROECONOMICS FOR TODAY
MACROECONOMICS FOR TODAY
Economics
ISBN:
9781337613057
Author:
Tucker
Publisher:
CENGAGE L
Micro Economics For Today
Micro Economics For Today
Economics
ISBN:
9781337613064
Author:
Tucker, Irvin B.
Publisher:
Cengage,
Economics For Today
Economics For Today
Economics
ISBN:
9781337613040
Author:
Tucker
Publisher:
Cengage Learning
Survey Of Economics
Survey Of Economics
Economics
ISBN:
9781337111522
Author:
Tucker, Irvin B.
Publisher:
Cengage,
Economics (MindTap Course List)
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning