4. In the market for designer blue jeans, indicate whether each of the following

Question

4. In the market for designer blue jeans, indicate whether each of the following would result in an increase or decrease in demand, or an increase or decrease in quantity demanded. For blue jeans
a. More young people choose to wear blue jeans--------------------------
b. The price of blue jeans increases-----------------
c. Green jeans, a close substitute for blue jeans, have a big price increase--------------
Be sure to note whether it is an increase or decrease and whether it is a change in demand or quantity demanded.

Explanation / Answer

4. In the market for designer blue jeans, indicate whether each of the following would result in an increase or decrease in demand, or an increase or decrease in quantity demanded. For blue jeans
a. More young people choose to wear blue jeans
Entire demand curve shifts to the right, so demand increases b. The price of blue jeans increases
This is movement along the demand curve, so quantity demanded decreases c. Green jeans, a close substitute for blue jeans, have a big price increase Entire demand curve shifts to the right, so demand increases

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