Suppose consumer tastes and preferences shift from pizza to tacos. In the short run case, these changing tastes will result in pizza restaurants ________ pizza prices and taco restaurants ________ taco prices.
A) decreasing; increasing B) decreasing; decreasing
C) increasing; increasing D) increasing; decreasing
Question 2
A change in the quantity demanded of a product is the result of a change in
A) consumer income. B) the price of the product.
C) the cost of producing the product. D) the price of related goods.
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