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Suppose you sell laptops and Samsung just released its newest tablet that just does pretty much everything your laptops do. What happens to the price and quantity of laptops? Explain using a graph.
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Make up an example of a monthly demand schedule for pizza, and graph the implied demand curve. Give an example of something that would shift this demand curve, and briefly explain your reasoning. Would a change in the price of pizza shift this demand curv
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Select the answer that best describes the law of demand. a. An increase in income increases demand. b. An increase in price will decrease demand. c. A decrease in price will increase quantity demanded
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Demand
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Haagen Dazs decides to increase the price of its ice cream from $5/pint to $7/pint. How will this price increase affect sales? a) Sales of Haagen Dazs ice cream will increase. b) Sales of Haagen Dazs ice cream will remain the same. c) Sales of Haagen Dazs
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In the small town of Springfield, Duffman observes that the price of beer has fallen. Duffman concludes that the total amount of money spent buying beer has to fall since the price of beer is lower. Is he correct? Why or why not? Explain your answer.
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Demand
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The prices of the Ralph Lauren Polo line of clothing are considerably higher than those of comparable-quality lines. Yet, this line sells more than a J. C. Penney brand line of clothing. Does this violate the law of demand?
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Demand
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In the market for cellphones, the price of a cell phone rises and nothing else changes. 1. Show the effect in the graph. 2. Draw either a new demand curve or an arrow along the curve showing the direction of change.
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What are some examples of demand pull inflation?
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Under what conditions can the law of demand be violated?
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What are the differences between managing capacity and managing demand for a service/firm?
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