Author Question: An economist has conducted extensive research and has found that Jones Cola is a substitute for ... (Read 73 times)

stephzh

  • Hero Member
  • *****
  • Posts: 556
An economist has conducted extensive research and has found that Jones Cola is a substitute for Tucker Cola. Ceteris paribus, the price of Jones Cola increases. The impact on the demand curve for Tucker Cola is a(n):
 a. increase in demand. b. decrease in demand.
  c. increase in quantity demanded. d. decrease in quantity demanded.

Question 2

Assuming that beef and chicken are substitutes, an increase in the price of beef, other things being equal, will:
 a. increase the demand for chicken. b. decrease the demand for chicken.
  c. not change the demand for chicken. d. decrease the demand for beef.



reversalruiz

  • Sr. Member
  • ****
  • Posts: 327
Answer to Question 1

a

Answer to Question 2

a



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

For a complete list of videos, visit our video library