Multiple Choice
If two goods are substitutes,then an increase in the price of one will cause:
A) a leftward shift of the demand curve for the other good.
B) a rightward shift of the demand curve for the other good.
C) a movement up and to the left along the demand curve for the other good.
D) a movement down and to the right along the demand curve for the other good.
Correct Answer:

Verified
Correct Answer:
Verified
Q18: Suppose a consumer buy books and DVDs.The
Q19: Refer to Figure 5.1.In which graph does
Q20: A utility function is a mathematical function
Q21: When the price elasticity of demand is
Q22: If the income-consumption path slopes down,then:<br>A) both
Q24: Refer to Figure 5.6.Which diagram shows an
Q25: Suppose that steak is a normal good
Q26: When the price elasticity of demand is
Q27: If a change in the price of
Q28: An increase in the price of the