Top Posters
Since Sunday
y
2
m
2
m
2
u
2
m
2
B
2
M
2
e
2
k
2
N
2
y
2
m
2
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
anymous anymous
wrote...
Go to Answer
Posts: 146
Rep: 0 0
2 years ago


Short description: A graph plots quantity of energy-efficient light bulbs in thousands against dollars per unit. Long description: The horizontal axis represents the quantity of energy-efficient light bulbs in thousands. The vertical axis represents dollars per unit. The graph plots three concave up decreasing curves. The first curve representing D passes through the following points: u (100, 12), v (125, 11), w (150, 10), x (200, 9), and y (300, 8). The second curve representing D superscript 1 lies above and parallel to D. The third curve representing D superscript 2 lies below and parallel to D.

FIGURE 3-1

Refer to Figure 3-1. The movement along the demand curve, D, from point v to point x, could be caused by



▸ an expectation that new, government regulations will require the use of energy-efficient light bulbs only.

▸ a change in the price of ordinary light bulbs.

▸ an increase in household income, which allows consumers to purchase more light bulbs.

▸ a change in the price of energy-efficient light bulbs.

▸ a change in preferences away from ordinary light bulbs to energy-efficient light bulbs.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
Read 57 times
1 Reply
Replies
Answer verified by a subject expert
boomers1234boomers1234
wrote...
#1
Posts: 137
Rep: 0 0
2 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

anymous Author
wrote...

2 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
alpheratz
wrote...

Yesterday
this is exactly what I needed
lolaww
wrote...

2 hours ago
This calls for a celebration Person Raising Both Hands in Celebration
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  380 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 10291
  
 97
  
 290
Your Opinion
How often do you eat-out per week?
Votes: 81
Previous poll results: What percentage of nature vs. nurture dictates human intelligence?