Three of the four events described below might reasonably be expected to shift the demand curve for Tacos to a new position. One would not shift the demand curve. The single exception is:
a. a change in people's tastes with respect to Tacos.
b. an increase in the money income of beef consumers.
c. a widespread advertising campaign undertaken by the producers of a product competitive with Tacos.
d. a fall in the price of Tacos.
Question 2
Which of the following is true if the price of coffee increases?
a. The demand for tea, a substitute good, will decrease.
b. The demand for coffee will increase.
c. The demand for coffee and tea will decrease.
d. Both the demand for coffee and tea will increase.
e. The demand for tea, a substitute good, will increase.
Major Events in the History of Psychology (5 of 6)
Bell Curve Joke
How to vertically shift a sinusoidal function (y=a*sinb(x−c)+d)
The population of Asia increases rapidly, the demand for food and water is also growing
China has relied on cheap coal to meet its demand for energy
Economic recession in 2008 saw a small decrease in demand