Author Question: Which of the following will increase the demand for motorcycles? a. A fall in the price of ... (Read 65 times)

asan beg · **on:** Jun 30, 2018

Which of the following will increase the demand for motorcycles?
a. A fall in the price of motorcycles.
b. A fall in insurance rates for motorcycles.
c. A fall in the price of automobiles.
d. A fall in buyers' incomes (assuming motorcycles are a normal good).
e. A fall in consumer preference for motorcycles.

Question 2

An increase in the demand for a good means that:
a. the demand curve has shifted to the left.
b. the good's price has fallen and, as a result, consumers are buying more of the good.
c. the good has become scarce.
d. consumers are willing to purchase more of the good at each possible price.