c. derived demand d. hybrid demand-supply a. equilibrium is the exception, and n

ID: 1229091 • Letter: C

Question

c. derived demand

d. hybrid demand-supply

a. equilibrium is the exception, and not the rule, in factormarkets

b. the demand for a factor of production is a derived demand

c. the demand for a factor of production is likely to be upwardsloping, in violation of the law and demand

33.If a consumer’s income decreases, the budget constraintfro CDs and DVDs will

a. shift outward, parallel to the original budget constraint

b. shift inward, parallel to the original budget constraint

c. rotate outward along the CD axis because we can afford moreCDs

36. A consumer that doesn’t spend all of her income

a. would be at a point outside of her budget constraint

b. would be at a point inside her budget constraint

c. must not be consuming positive quantities of all goods

37. An increase in income will cause a consumer's budgetconstraint to

a. shift outward, parallel to its initial position

b. shift inward, parallel to its initial position

c. pivot around the "Y" axis

d. pivot around the "X" axis

I'm not sure about 4 and 5. 33. B 36. B 37. A Hope this helps.

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