In the supply-and-demand diagram of the market for peanut butter, the equilibrium point has moved down and to the right. What could have caused this? a. a rise in income, assuming that peanut butter is an inferior good b. a shift in preferences toward peanut butter C. a fall in the price of peanuts d. a rise in the price of peanuts
In the supply-and-demand diagram of the market for peanut butter, the equilibrium point has moved down and to the right. What could have caused this? a. a rise in income, assuming that peanut butter is an inferior good b. a shift in preferences toward peanut butter C. a fall in the price of peanuts d. a rise in the price of peanuts
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![* Question Completion Status:
U. Ihe demand for ine good rises when income fanS
C. the demand for the good rises when the price falls
d. the demand for the good rises when income rises
QUESTION 32
In the supply-and-demand diagram of the market for peanut butter, the equilibrium point has moved down and to the right.
What could have caused this?
a. a rise in income, assuming that peanut butter is an inferior good
b. a shift in preferences toward peanut butter
C. a fall in the price of peanuts
d. a rise in the price of peanuts
QUESTION 33
If Cody's demand for grapefruit rises when the price of oranges rises, then for Cody
a. Oranges are a complement for grapefruit
Click Save and Submit to save and submit. Click Save All Answers to save all answers.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Feadc0f91-6e4f-4314-9c19-00c9930c0770%2F43e5dbfa-d6d8-4ae6-8264-107b46a9c165%2F41imqv_processed.jpeg&w=3840&q=75)
Transcribed Image Text:* Question Completion Status:
U. Ihe demand for ine good rises when income fanS
C. the demand for the good rises when the price falls
d. the demand for the good rises when income rises
QUESTION 32
In the supply-and-demand diagram of the market for peanut butter, the equilibrium point has moved down and to the right.
What could have caused this?
a. a rise in income, assuming that peanut butter is an inferior good
b. a shift in preferences toward peanut butter
C. a fall in the price of peanuts
d. a rise in the price of peanuts
QUESTION 33
If Cody's demand for grapefruit rises when the price of oranges rises, then for Cody
a. Oranges are a complement for grapefruit
Click Save and Submit to save and submit. Click Save All Answers to save all answers.
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