1. If the demand curve for product A moves to the right, and the price of product B increases, it can be concluded that: Show
5) Scarcity requires that people must 6. Which of the following is a microeconomic topic? 7. Which of the following is NOT a factor of production? 8. When the government chooses to use resources to build a dam, these sources are no longer available to build a highway. This choice
illustrates the concept of 9. Any point on a production possibilities frontier (PPF) itself is 13. When the price of a good falls, ceteris paribus, the income effect for a normal good implies that people buy 15. The ABC Music club charges a price of $16 for a CD and $8 for a cassette. Both CDs and cassettes are normal goods. If the ABC Music club increases the price of a CD to $18, everything else remaining the same, 16. When supply and demand both increase, the 17. If a technological improvement takes place in the computer industry, then the equilibrium price of a computer will ____ and the equilibrium quantity will ____. 18. A President of the United States promises to simultaneously produce more defense goods without any decreases in the production of other goods. This promise can be valid
What can be concluded if the demand curve for product B shifts to the right as the price of product A declines?Asked by Skimind, Last updated: Sep 26, 2022 + AnswerF. Ray
F. Ray, Student, Kansas City Answered Dec 05, 2018 If the price of product A drops and the demand curve of product B shifts right, then it can easily be concluded that products A and B are complementary products. When a curve shifts right, then there is less demand for it when another product is at a certain price point. If product A is just as good as product B and costs less, then more people are going to buy product A. Product B’s demand will shift right on a demand curve. If product A’s price went up, then the curve for B would shift left instead of right. Especially if the two products are more or less the same and are complementary goods. That’s all it means, really. John Smith
A and B are complementary goods. What happens when demand curve shift to the right?Demand Curve Shifts Right
The curve shifts to the right if the determinant causes demand to increase. This means more of the good or service are demanded even though there's no change in price. When the economy is booming, buyers' incomes will rise. They'll buy more of everything, even though the price hasn't changed.
What will happen if your demand curve shifts to the left or to the right?Leftward Shift in Demand Curve
This means the demand changes independently of the price. If the demand curve shifts to the right, consumers want to buy higher quantities for the same amount of money.
What happens to price and quantity when the demand curve shifts to the right?Note that the supply curve does not shift but a lower quantity is supplied due to a decrease in the price. If the demand curve shifts right, there is a greater quantity demanded at each price, the newly created shortage at the original price will drive the market to a higher equilibrium price and quantity.
What can cause the supply curve for a product to shift to the right?A technological improvement that reduces costs of production will shift supply to the right, causing a greater quantity to be produced at any given price.
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