Principles of Microeconomics, 7th Edition

Published by South-Western College
ISBN 10: 128516590X
ISBN 13: 978-1-28516-590-5

Chapter 4 - Part II - The Market Forces of Supply and Demand - Quick Check Multiple Choice: 1


b. the price of hamburgers

Work Step by Step

The other three answer choices are all examples of changes that will shift the demand curve for hamburgers. A. Change in price of related goods for hamburgers C. Change in price of inputs to make hamburgers D. Change in income for consumers who purchase hamburgers On the other hand, the change in the price of the good itself will only change the quantity demanded for that good. For example, if the price of hamburgers increases, hamburgers will seem more expensive, so consumers will demand fewer hamburgers at that price. This change will only affect quantity demanded at that price, not at all possible prices of hamburgers.
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