Question 1 which of the following changes will not cause, Ask an Expert

Economics

Question: 1. Which of the following changes will not cause the demand for root beer to increase?

a. a fall in the price of root beer

b. an increase in consumers' incomes (with root beer being a normal good)

c. a decrease in consumers' incomes (with root beer being an inferior good)

d. an increase in the price of ginger ale (with ginger ale being a substitute good for root beer)

e. consumer preferences change so that many more people come to really love drinking root beer

2. Goods A and B are complementary to each other if, as the price of A changes the demand for B

a. changes in the same direction

b. changes in the opposite direction

c. is unaffected

3. According to economists, if a lasting shortage of coffee exists, it is caused by

a. the price of coffee being held below the equilibrium price of coffee

b. the price of coffee being held above the equilibrium price of coffee

c. the price of coffee being held at the equilibrium price of coffee

d. consumers increasing their demand for coffee

e. consumers decreasing their demand for coffee

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92585190

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