Which of the following would not cause a decrease in demand for potato chips? a decrease in income (assuming that potato chips are a normal good) an increase in the price of potato chips an increase in the price of onion dip (often eaten together with potato chips) O fewer people like potato chips

Which of the following would not cause a decrease in demand for potato chips? a decrease in income (assuming that potato chips are a normal good) an increase in the price of potato chips an increase in the price of onion dip (often eaten together with potato chips) O fewer people like potato chips

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Welfare Analysis

Welfare analysis of the society is related to welfare economics. From the economic point of view former welfare economics refers to that subject which uses the techniques of microeconomics to analyse and evaluate the welfare at the economic or aggregate level.

Question

Which of the following would not cause a
decrease in demand for potato chips?
a decrease in income (assuming that potato
chips are a normal good)
an increase in the price of potato chips
an increase in the price of onion dip (often
eaten together with potato chips)
O fewer people like potato chips.

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