uestion 2 of 28 ncorrect ncorrect Map pling For each example, determine how the
ID: 1167455 • Letter: U
Question
uestion 2 of 28 ncorrect ncorrect Map pling For each example, determine how the market for the good in bolded text will respond to the described change. Due to increases in hay prices, an input for raising cattle, the Quantity Demanded price of a gallon of 2% milk increases from $2.98 to S3.25. Increases Quantity Demanded Groupon has a Groupon for S6 off the price of laser tag Decreases Quantity Demanded Remains Unchanged Sharp increase in the price of wood causes increases in prices for dressers and desks. Week long special at the grocery store, where pork shoulder is on sale at S1.99 a pound, down from $3.99 a pound. Buy one get one free special for mp3 albums on Amazon. O Previous 8 Give Up & View solution 2 Check Answer Next ExtExplanation / Answer
1.
If price of gallon of milk increases:
Answer: Quantity demanded decreases as per the law of demand because it is negatively sloped.
2.
$6 off in the price tag
Answer: Quantity demanded increases (as per the law of demand).
3.
Increase in the price of wood
Answer: Quantity demanded decreases (as per the law of demand).
4.
Week long special sale
Answer: Quantity demanded increases (as per the law of demand).
5
Buy one get one free
Answer: Quantity demanded increases (as per the law of demand).
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