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 - SraJMcGin, Monday, October 10, 2011 at 10:24am
If III means the curve does not shift, I would eliminate that one and go for A.