Asked by
Darrlyn Tinsley
on Dec 08, 2024
Verified
Refer to Figure 3.6. The number of DVDs Isabel rents per week increases from 4 to 7. This is caused by
A) an increase in income if DVDs are a normal good.
B) a decrease in the price of popcorn, which is a complement to DVDs.
C) a decrease in the rental price of DVDs.
D) either A or B
Normal Good
A type of good for which demand increases when consumer income rises, and decreases when consumer income decreases.
Rental Price
The cost associated with renting a property, such as an apartment or a car.
- Determine the effects of price fluctuations on the amount of goods demanded and supplied.
- Examine how fluctuations in consumer income impact the demand for products.
Verified Answer
KH
Learning Objectives
- Determine the effects of price fluctuations on the amount of goods demanded and supplied.
- Examine how fluctuations in consumer income impact the demand for products.