Macroeconomics
10th Edition
ISBN: 9781319105990
Author: Mankiw, N. Gregory.
Publisher: Worth Publishers,
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Question
Chapter 1, Problem 3PA
To determine
Market for ice cream.
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Match the Determinants with the appropriate change in the market for chocolate.
Consider the market demand for donuts. Complete a table by indicating whether an event will cause a movement among the demand curve for donuts or a shift of the demand curve for donuts, holding all else constant. Event: A decrease in income of consumers (movement along or shift)
Event: A decrease in the number of consumers (movement along or shift)
Event: A decrease in the price of donuts (movement along or shift)
Movements along versus shifts of demand curves
Consider the market demand for wine.
Complete the following table by indicating whether an event will cause a movement along the demand curve for wine or a shift of the demand curve for wine, holding all else constant.
Event
Movement Along
Shift
An increase in the number of consumers
A decrease in the price of wine
An increase in income of consumers
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