Refer to the information provided in Figure 31 belowto answer the questiontsi that follomFigure 3.1Refer to Figure 3.1. Which of the following would bemost likely to cause the demand for Dr. Pepper to shiftfrom DO to D1?.a decrease in income, assuming that Dr. Pepper is anormal goodan increase in the price of 7-UP, assuming 7-UP is asubstitute for Dr. Peppera decrease in the price of Dr. Peppera reduction in the price of sugar used to make Dr.PepperRefer to Scenarie 3.I below to answer the questionts)that followSCENARIO 3.1-Streaming movies and movies shown in theaters aresubstitutes.-Streaming movies and OLED TVs are complements.OLED TVs and movies shown in theaters are normalgoods.-People watch streaming movies more often in thewinter than in the summer. 19. Refer to Scenario 3.1. Most OLED TVs sold in theUnited States are imported from Asia. If the UnitedStates government reduces the number of OLED TVsthat can be imported into the United States, ceterisparibus, what would happen?The price of OLED TVs and the price of streamingmovies would decreaseb. The price of OLED TVs would decrease, and the priceof streaming movies would increase.c. The price of OLED TVs would increase, and the priceof streaming movies would decrease.d. The price of OLED TVs and the price of streamingmovies would increase.20. Refer to Scenario 3.1. You observe that the price ofstreaming movies is higher in the winter than in thesummer. This would be explained by the fact thatdemand for streaming movies is higher in the winterthan in the summer.b. the quantity demanded of streaming movies is higher inthe winter than in the summer.there are more streaming movies released in the winterthan in the summerd. consumer income tends to fall in the winter andincrease in the summer.

Import restrictions: It refers to the restrictions applied to the goods that have to be imported…

Refer to Scenarie k.I helow to enswer the questionts nhat follow SCENARIO 3I -Streaming movies and movies shown in theaters are substitutes. -Streaming movies and OLED TVs are complements. OLED TVs and movies shown in theaters are noemal goods. -People watch streaming movies more ofhen in the winter than in the summer.

Refer to Scenarie k.I helow to enswer the questionts nhat follow SCENARIO 3I -Streaming movies and movies shown in theaters are substitutes. -Streaming movies and OLED TVs are complements. OLED TVs and movies shown in theaters are noemal goods. -People watch streaming movies more ofhen in the winter than in the summer.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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