The determinants of the demand curve.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 4, Problem 1CQQ

To determine

The determinants of the demand curve.

Expert Solution & Answer

Answer to Problem 1CQQ

Option ‘b’ is the correct answer.

Explanation of Solution

Option (b):

A change in price of hamburgers leads to a movement along the demand curve and not a shift of the demand curve because price is measured on the vertical axis of a demand curve. Thus, option ‘b’ is correct.

Option (a):

Hot dogs can be considered as substitutes of hamburgers. A change in the price of a substitute good shifts the demand curve of a good. Thus, a change in price of hot dogs shifts the demand curve of hamburgers. So, option ‘a’ is incorrect.

Option (c):

Hamburger buns can be considered as complementary goods of hamburgers. A change in the price of a complementary good shifts the demand curve of a good. Thus, a change in the price of hamburger buns shifts the demand curve of a hamburger. So, option ‘c’ is incorrect.

Option (d):

A change in the income of a consumer of a good shifts the demand curve of that good. Thus, a change in the income of hamburger consumers shifts the demand curve of hamburger. So, option ‘d’ is incorrect.

Economics Concept Introduction

Concept introduction:

Complementary good: It is agood with a negative cross elasticity of demand, that is, a good whose demand is increased when the price of another good is decreased.

Substitute good: It is agood with a positive cross elasticity of demand, that is, a good whose demand is decreased when the price of another good is decreased.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

• 3 different people working at any companies under the BPO industry in the Philippines. • What are the 3 different Vision, Mission, Duties and Responsibilities and Career Path of these people in their companies under the BPO industry?

Module 6 ⚫(1902) Buckner C X | (1902) How to d x (1902) Buckner F X (1902) Productic X WP Videoplayer Canvas Login | Ir x | + Σ R mybrcc.instructure.com/courses/417310/discussion_topics/3420114?module_item_id=20155705 Spring 2025 Home Announcements Modules Syllabus Grades 8 People BRCC-_Library DLASC Module 6 Discussion - Business Costs Relaunch to update For this discussion, think about where you work or a business you have a significant amount of knowledge about. What is a common product that the business sells? What are the main costs the business has to incur in order to be able to sell that product? Which of these costs are fixed and which are variable? How much additional costs would be incurred if it were to sell one additional unit of that product (marginal cost)? Write a discussion thread about this business, the product it commonly sells, and your answers to the above questions. Also, respond to at least two threads created by your classmates. In these responses, share what…

Refer to the video to answer the following: • what are all the key policies or all the strategies the Philippine government should prioritize to accelerate sustainable economic growth? • these should consider the Philippines current economic challenges, including inflation, unemployment, and the need for digital transformation. "The Philippines' Strong Economic Growth" (YouTube link: https://youtu.be/1YtEoGp2ZeM?siJQfIv5kbu0txVsLL.)

Answer 2

Question

Chapter 4, Problem 1CQQ

To determine

The determinants of the demand curve.

Expert Solution & Answer

Answer to Problem 1CQQ

Option ‘b’ is the correct answer.

Explanation of Solution

Option (b):

A change in price of hamburgers leads to a movement along the demand curve and not a shift of the demand curve because price is measured on the vertical axis of a demand curve. Thus, option ‘b’ is correct.

Option (a):

Hot dogs can be considered as substitutes of hamburgers. A change in the price of a substitute good shifts the demand curve of a good. Thus, a change in price of hot dogs shifts the demand curve of hamburgers. So, option ‘a’ is incorrect.

Option (c):

Hamburger buns can be considered as complementary goods of hamburgers. A change in the price of a complementary good shifts the demand curve of a good. Thus, a change in the price of hamburger buns shifts the demand curve of a hamburger. So, option ‘c’ is incorrect.

Option (d):

A change in the income of a consumer of a good shifts the demand curve of that good. Thus, a change in the income of hamburger consumers shifts the demand curve of hamburger. So, option ‘d’ is incorrect.

Economics Concept Introduction

Concept introduction:

Complementary good: It is agood with a negative cross elasticity of demand, that is, a good whose demand is increased when the price of another good is decreased.

Substitute good: It is agood with a positive cross elasticity of demand, that is, a good whose demand is decreased when the price of another good is decreased.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 4, Problem 1CQQ

To determine

The determinants of the demand curve.

Expert Solution & Answer

Answer to Problem 1CQQ

Option ‘b’ is the correct answer.

Explanation of Solution

Option (b):

A change in price of hamburgers leads to a movement along the demand curve and not a shift of the demand curve because price is measured on the vertical axis of a demand curve. Thus, option ‘b’ is correct.

Option (a):

Hot dogs can be considered as substitutes of hamburgers. A change in the price of a substitute good shifts the demand curve of a good. Thus, a change in price of hot dogs shifts the demand curve of hamburgers. So, option ‘a’ is incorrect.

Option (c):

Hamburger buns can be considered as complementary goods of hamburgers. A change in the price of a complementary good shifts the demand curve of a good. Thus, a change in the price of hamburger buns shifts the demand curve of a hamburger. So, option ‘c’ is incorrect.

Option (d):

A change in the income of a consumer of a good shifts the demand curve of that good. Thus, a change in the income of hamburger consumers shifts the demand curve of hamburger. So, option ‘d’ is incorrect.

Economics Concept Introduction

Concept introduction:

Complementary good: It is agood with a negative cross elasticity of demand, that is, a good whose demand is increased when the price of another good is decreased.

Substitute good: It is agood with a positive cross elasticity of demand, that is, a good whose demand is decreased when the price of another good is decreased.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 4, Problem 1CQQ

To determine

The determinants of the demand curve.

Expert Solution & Answer

Answer to Problem 1CQQ

Option ‘b’ is the correct answer.

Explanation of Solution

Option (b):

A change in price of hamburgers leads to a movement along the demand curve and not a shift of the demand curve because price is measured on the vertical axis of a demand curve. Thus, option ‘b’ is correct.

Option (a):

Hot dogs can be considered as substitutes of hamburgers. A change in the price of a substitute good shifts the demand curve of a good. Thus, a change in price of hot dogs shifts the demand curve of hamburgers. So, option ‘a’ is incorrect.

Option (c):

Hamburger buns can be considered as complementary goods of hamburgers. A change in the price of a complementary good shifts the demand curve of a good. Thus, a change in the price of hamburger buns shifts the demand curve of a hamburger. So, option ‘c’ is incorrect.

Option (d):

A change in the income of a consumer of a good shifts the demand curve of that good. Thus, a change in the income of hamburger consumers shifts the demand curve of hamburger. So, option ‘d’ is incorrect.

Economics Concept Introduction

Concept introduction:

Complementary good: It is agood with a negative cross elasticity of demand, that is, a good whose demand is increased when the price of another good is decreased.

Substitute good: It is agood with a positive cross elasticity of demand, that is, a good whose demand is decreased when the price of another good is decreased.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 4, Problem 1CQQ

To determine

The determinants of the demand curve.

Expert Solution & Answer

Answer to Problem 1CQQ

Option ‘b’ is the correct answer.

Explanation of Solution

Option (b):

A change in price of hamburgers leads to a movement along the demand curve and not a shift of the demand curve because price is measured on the vertical axis of a demand curve. Thus, option ‘b’ is correct.

Option (a):

Hot dogs can be considered as substitutes of hamburgers. A change in the price of a substitute good shifts the demand curve of a good. Thus, a change in price of hot dogs shifts the demand curve of hamburgers. So, option ‘a’ is incorrect.

Option (c):

Hamburger buns can be considered as complementary goods of hamburgers. A change in the price of a complementary good shifts the demand curve of a good. Thus, a change in the price of hamburger buns shifts the demand curve of a hamburger. So, option ‘c’ is incorrect.

Option (d):

A change in the income of a consumer of a good shifts the demand curve of that good. Thus, a change in the income of hamburger consumers shifts the demand curve of hamburger. So, option ‘d’ is incorrect.

Economics Concept Introduction

Concept introduction:

Complementary good: It is agood with a negative cross elasticity of demand, that is, a good whose demand is increased when the price of another good is decreased.

Substitute good: It is agood with a positive cross elasticity of demand, that is, a good whose demand is decreased when the price of another good is decreased.

Answer 6

Chapter 4, Problem 1CQQ

To determine

The determinants of the demand curve.

Expert Solution & Answer

Answer to Problem 1CQQ

Option ‘b’ is the correct answer.

Explanation of Solution

Option (b):

A change in price of hamburgers leads to a movement along the demand curve and not a shift of the demand curve because price is measured on the vertical axis of a demand curve. Thus, option ‘b’ is correct.

Option (a):

Hot dogs can be considered as substitutes of hamburgers. A change in the price of a substitute good shifts the demand curve of a good. Thus, a change in price of hot dogs shifts the demand curve of hamburgers. So, option ‘a’ is incorrect.

Option (c):

Hamburger buns can be considered as complementary goods of hamburgers. A change in the price of a complementary good shifts the demand curve of a good. Thus, a change in the price of hamburger buns shifts the demand curve of a hamburger. So, option ‘c’ is incorrect.

Option (d):

A change in the income of a consumer of a good shifts the demand curve of that good. Thus, a change in the income of hamburger consumers shifts the demand curve of hamburger. So, option ‘d’ is incorrect.

Economics Concept Introduction

Concept introduction:

Complementary good: It is agood with a negative cross elasticity of demand, that is, a good whose demand is increased when the price of another good is decreased.

Substitute good: It is agood with a positive cross elasticity of demand, that is, a good whose demand is decreased when the price of another good is decreased.

Answer 7

Chapter 4, Problem 1CQQ

To determine

The determinants of the demand curve.

Answer 8

Expert Solution & Answer

Answer to Problem 1CQQ

Option ‘b’ is the correct answer.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Explanation of Solution

Option (b):

A change in price of hamburgers leads to a movement along the demand curve and not a shift of the demand curve because price is measured on the vertical axis of a demand curve. Thus, option ‘b’ is correct.

Option (a):

Hot dogs can be considered as substitutes of hamburgers. A change in the price of a substitute good shifts the demand curve of a good. Thus, a change in price of hot dogs shifts the demand curve of hamburgers. So, option ‘a’ is incorrect.

Option (c):

Hamburger buns can be considered as complementary goods of hamburgers. A change in the price of a complementary good shifts the demand curve of a good. Thus, a change in the price of hamburger buns shifts the demand curve of a hamburger. So, option ‘c’ is incorrect.

Option (d):

A change in the income of a consumer of a good shifts the demand curve of that good. Thus, a change in the income of hamburger consumers shifts the demand curve of hamburger. So, option ‘d’ is incorrect.

Answer 12

Economics Concept Introduction

Concept introduction:

Complementary good: It is agood with a negative cross elasticity of demand, that is, a good whose demand is increased when the price of another good is decreased.

Substitute good: It is agood with a positive cross elasticity of demand, that is, a good whose demand is decreased when the price of another good is decreased.

Answer 13

Ch. 4.1 - Prob. 1QQ Ch. 4.2 - Prob. 2QQ Ch. 4.3 - Prob. 3QQ Ch. 4.4 - Prob. 4QQ Ch. 4 - Prob. 1CQQ Ch. 4 - Prob. 2CQQ Ch. 4 - Prob. 3CQQ Ch. 4 - Prob. 4CQQ Ch. 4 - Prob. 5CQQ Ch. 4 - Prob. 6CQQ

The determinants of the demand curve.

The determinants of the demand curve.

Answer to Problem 1CQQ

Explanation of Solution

Want to see more full solutions like this?

Chapter 4 Solutions