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Posted by on Monday, October 10, 2011 at 2:47am.

Suppose that in this city, the price of a spaghetti dinner changes from $10 to $15. Which of the following statements correctly describes what happens in the calculator?

I. There is a reduction in the number of dinners that people buy.
II. There is a reduction in demand.
III. The point showing price and quantity slides along the demand curve.
IV. The demand curve shifts.

A. I, II, and IV

B. I and II

C. II and IV

D. I and III

  • economics - , Monday, October 10, 2011 at 10:24am

    If III means the curve does not shift, I would eliminate that one and go for A.


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