A decrease in the price of cameras will:Multiple Choiceshift the demand curve for film to the right.cause the demand curve for film to become vertical.shift the demand curve for film to the left.not affect the demand for film.
Question
A decrease in the price of cameras will:Multiple Choiceshift the demand curve for film to the right.cause the demand curve for film to become vertical.shift the demand curve for film to the left.not affect the demand for film.
Solution
The correct answer is: shift the demand curve for film to the right.
Here's why:
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Cameras and film are complementary goods. This means that they are used together - if you buy a camera, you're likely going to need film to use it.
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When the price of a complementary good (in this case, cameras) decreases, the demand for the other good (film) increases. This is because more people can afford cameras, so more people will need film.
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When demand for a good increases, this is represented on a graph by a shift of the demand curve to the right.
So, a decrease in the price of cameras will shift the demand curve for film to the right.
Similar Questions
If the demand curve for a good is horizontal and the price is positive, then a leftward shift of the supply curve results inGroup of answer choicesa price of zero.an increase in price.a decrease in price.no change in price.
Which of the following causes the demand curve to shift to the right?*1 pointA. A reduction in the size of populationB. An increase in the income of the buyerC. The availability of substitutesD. A decrease in price of the good
What would cause the demand curve to shift?Change in consumer preferences.Change in the number of suppliers.Change in the input costs of production.All of the above.
An increase in price shifts the demand curve to the left.Group of answer choicesTrueFalse
When a demand curve shifts to the rightMultiple Choicedemand has increased, so equilibrium price increases, and equilibrium quantity increases.demand has decreased, so equilibrium price decreases, and equilibrium quantity decreases.demand has increased, so supply also shifts to the right, and the equilibrium price increases.demand has decreased, so supply also shifts to the right, and the equilibrium price decreases.
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