Which of the following would most likely cause the demand for veggi burgers to increase?
a. A decline in the price of veggie burger.
b. An increase in the price of tofu burgers, perceived as a substitute by veggie burger consumers.
c. An increase in the price of burger buns.
d. A technological innovation that lowers the cost of producing veggie burgers.
Question 2
Suppose the prices of petroleum products, including gasoline and fuel oil, fell sharply. Which of the following would most likely occur as the result of the lower prices of petroleum products?
a. A reduction in the consumption of gasoline.
b. An increase in demand for solar heating systems.
c. An increase in demand for smaller, more efficient automobiles.
d. A reduction in the demand for home insulation products.
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