# Econ 4

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question
A change in which of the following will NOT shift the demand curve for hamburgers - The price of hot dogs - The price of hamburgers - The price of hamburger buns - The income of hamburger consumers
The price of hamburgers The demand curve for hamburgers shows the relationship between the price of hamburgers and the quantity of hamburgers demanded by consumers, assuming that all the determinants of demand are held constant. The following list displays determinants of demand, which are the factors that affect the quantity of hamburgers consumers want to buy at a given price: FACTORS THAT DETERMINE DEMAND -Price of a related good (complement or substitute) -Income of consumers -Tastes of consumers -Number of consumers -Expectations of consumers Therefore, if the price of hamburgers changes, the result is a MOVEMENT along the demand curve from the old price to the new one. However, if a change occurs in any of the factors that determine demand - such as the price of hot dogs ( a substitute), the price of hamburger buns (a complement), or the income of hamburger consumers - the result is a shift of the demand curve
question
An increase in ___ will cause a movement along a given demand curve, which is also called a change in ___. - Supply, demand - Supply, quantity demanded - Demand, supply - Demand, quantity supplied
Supply, quantity demanded Demand refers to the position of the demand curve Quantity demanded refers to the amount consumers wish to buy Supply refers to the position of the supply curve Quantity supply refers to the amount of supplies you wish to sell In this case, an increase in supply will cause the equilibrium price to decrease, resulting in a movement along the demand curve. The demand curve itself remains unchanged, but the quantity demanded is affected. (Question 2 to see graph)
question
Movie tickets and DVDs are substitutes. If the price of DVDs increases, what happens in the market for movie tickets? - The supply curve shifts to the left - The supply curve shifts to the right - The demand curve shifts to the left - The demand curve shifts to the right