Verizon 3:26 PM courses.aplia.com Skyline-ECON-1000M96347-Fall 2018-Macro roblem
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Verizon 3:26 PM courses.aplia.com Skyline-ECON-1000M96347-Fall 2018-Macro roblem Solving: The Market Forces of Supply and Demand raded Assignment | Read Chapter 4 | Back to Assignment Mavements along Consider the market demand for hot dogs. Complete the following table by indicating whether an event will cause a movement along the demand curve for hot dogs or a shift of the demand curve for hot dogs, holding all else constant. An increase in the humber of consumers An increase in the price of soda (a complement for hot dogs) A decrease in the price of hot dogsExplanation / Answer
An increase in the number of consumers - shift. The increase in the number of consumers will increase the demand for the good meaning the demand shifts to the right.
An increase in the price of soda (a complement for hot dog) - shift. The increase in price of soda will reduce the demand for hot dogs because both are consumed together. The demand curve will shift to the left.
A decrease in the price of hot dog - movement along. A decrease in the price of good will increase the quantity demanded for hot dog so there will be a movement along the demand curve.
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