{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Demand

# Demand - 1)(complementarygood)increases,...

This preview shows pages 1–2. Sign up to view the full content.

1) Suppose the price of apples (complementary good) increases, the demand for oranges would? Increase/ Decrease /Remain unchanged 2) Suppose incomes increase, the demand for ramen noodles (inferior good) would? Increase/ Decrease /Remain unchanged 3) Suppose the price of coffee increases, the demand for coffee would? Increase/Decrease/ Remain unchanged 4) Suppose consumers expect the price of DVDs to increase in the future, the demand today for DVDs  (normal good) would? Increase /Decrease/Remain unchanged 5) If Qd = 100 – 0.25P  then P =  400 – 4Qd 6) If P = 100 then Qd =  75 7)   Qd x  = 4000 – 5P x  + 2Inc + 1P Z  - 3P + 0.2P B Using the demand curve above: Good X is a  normal /inferior good. X and Z are  substitutes /complement goods X and A are substitutes/ complement  goods X and B are  substitutes /complement goods

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### Page1 / 3

Demand - 1)(complementarygood)increases,...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online