Microeconomics
Microeconomics
11th Edition
ISBN: 9781260507140
Author: David C. Colander
Publisher: McGraw Hill Education
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Chapter 4, Problem 4QE
To determine

The way in which shift factors affect demand.

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An economist for a bicycle company predicts that, other things equal, a rise in consumer incomes will increase the demand for bicycles. This prediction is based on the assumption that:         there are many goods that are substitutes for bicycles.        there are many goods that are complementary to bicycles.        there are few goods that are substitutes for bicycles.        bicycles are normal goods.
Identify and explain three (3) factors that affect the demand curve
The demand for coffee is dependent on demand and supply changes in other markets and other determinants. Which event would cause the change in demand for coffee to shift to the left?   Group of answer choices   A decrease in the price of tea, a substitute for coffee.   A decrease in the price of creamer, a complement to coffee.   An increase in the price of sugar, a complement to coffee.   An increase in consumer incomes
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