MicroeconomicsName: _______________Quiz #21.In the past few years, the demand for doughnuts has greatly increased. This increase in demand might best be explained by:A.an increase in the cost of making donuts. B.an increase in the price of coffee.C.a change in buyer tastes.D.consumers expecting doughnut prices to fall.
2.An economist for a bicycle company predicts that, other things equal, a rise in consumer incomes will increase the demand for bicycles. This prediction assumes that:
3.The Lowell Spinners is a minor league baseball team. During the recession the median income in Massachuetts declined. However, the Lowell Spinners' attendance is greater now than before the recession started. Based on this we can conclude that: