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Use the above figure. The consumer's choice changes from YA to YB. Which of the following ...

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Use the above figure. The consumer's choice changes from YA to YB. Which of the following ...

Question 1.

Use the above figure. The consumer's choice changes from YB to YA. Which of the following statements about good Y is TRUE?

• price has decreased and the quantity demanded has fallen.

• price has increased and the quantity demanded has fallen.

• price has increased and the quantity demanded has risen.

• price has decreased and the quantity demanded has risen.

Question 2.

Use the above figure. The consumer's choice changes from YA to YB. Which of the following statements about good Y is TRUE?

• price has increased and the quantity demanded has risen.

• price has increased and the quantity demanded has fallen.

• price has decreased and the quantity demanded has risen.

• price has decreased and the quantity demanded has fallen.

Textbook

Economics Today: The Micro View

Edition: 19^th

Author: Miller

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