Author Question: An economist has conducted extensive research and has found that Jones Cola is a substitute for ... (Read 84 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?

The largest baby ever born weighed more than 23 pounds but died just 11 hours after his birth in 1879. The largest surviving baby was born in October 2009 in Sumatra, Indonesia, and weighed an astounding 19.2 pounds at birth.

Did you know?

According to the CDC, approximately 31.7% of the U.S. population has high low-density lipoprotein (LDL) or "bad cholesterol" levels.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

For a complete list of videos, visit our video library