Question
A change in which of the following will NOT shift thedemand curve for hamburgers?a. the price of hot dogsb. the price of hamburgersc. the price of hamburger bunsd. the income of hamburger consumers.
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According to the textbook, these factors include the income of the consumers, the prices of related goods (both substitutes and complements), tastes, expectations, and the number of buyers. Show more…
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State whether each of the following events will result in a movement along the demand curve for McDonald's Big Mac hamburgers or whether it will cause the curve to shift. If the demand curve shifts, indicate whether it will shift to the left or to the right and draw a graph to illustrate the shift. a. The price of Burger King's Whopper hamburger declines. b. McDonald's distributes coupons for $\$ 1.00$ off the purchase of a Big Mac. c. Because of a shortage of potatoes, the price of French fries increases. d. Fast-food restaurants post nutrition warning labels. e. The U.S. economy enters a period of rapid growth in incomes.
Where Prices Come From: The Interaction of Demand and Supply
The Demand Side of the Market
Assuming steak is a normal good, a decrease in consumer income, other things being equal, will a. cause a downward movement along the demand curve for steak. b. shift the demand curve for steak to the left. c. cause an upward movement along the demand curve for steak. d. shift the demand curve for steak to the right.
Consider the demand for hamburgers. If the price of a substitute good (for example, hot dogs) increases and the price of a complement good (for example, hamburger buns) increases, can you tell for sure what will happen to the demand for hamburgers? Why or why not? Illustrate your answer with a graph.
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