Home » Consider the market for raspberries in Australia. Which of the following would most likely lead to a decrease in demand ?

Consider the market for raspberries in Australia. Which of the following would most likely lead to a decrease in demand ?

Consider the market for raspberries in Australia. Which of the following would most likely lead to a decrease in demand?

A decrease in the price of gooseberries, a substitute for raspberries.

An increase in the price of blueberries, a complement for raspberries

A decrease in income if raspberries are an inferior good.

A severe frost that destroys most of the Tasmanian raspberry crop.

Both a and b are correct.

Flag this Question

Question 2

1 pts

Consider the market for raspberries in Australia. Which of the following would most likely lead to an increase in the quantity demanded of raspberries? Note: a good is normal if an increase in income results in an increase in demand. A good is inferior if an increase in income results in a decrease in demand. For instance, potatoes may be an inferior good because people may well get to substitute the consumption of potatoes for more expensive goods as they become richer.

A decrease in the price of blueberries, a substitute for raspberries.

An increase in the price of blueberries, a complement for raspberries.

A decrease in income if raspberries are an inferior good.

A decrease in income if raspberries are a normal good.

None of the above.

Flag this Question

Question 5

1 pts

Hamburgers are an inferior good for Stephen. Which of the following will cause a decrease in demand? Note: a good is normal if an increase in income results in an increase in demand. A good is inferior if an increase in income results in a decrease in demand. For instance, potatoes may be an inferior good because people may well get to substitute the consumption of potatoes for more expensive goods as they become richer.

An increase in price.

A decrease in income.

An increase in income.

An increase in the price of hot dogs, a substitute for hamburgers.

None of the above.

Flag this Question

Question 6

1 pts

Which of the following statements best explains why the demand curve slopes downwards?

Marginal benefit increases as consumption increases.

Individuals have unlimited resources and limited wants.

Total benefit increases at a decreasing rate as consumption increases.

Total benefit decreases at an increasing rate as consumption increases.

a and d are correct. 

Flag this Question

Question 8

1 pts

The opportunity cost of buying Abba’s greatest hits on an online store (such as iTunes) is:

Negligible because the costs to iTunes for supplying electronic music is very low.

The dollar price of downloading an item from iTunes.

The value of your time spent downloading Abba’s album from iTunes.

The sum of b and c.

None of the above.

Flag this Question

Question 9

1 pts

Carl owns an iPad that he values at $150. Jill does not own an iPad and values the same iPad at $125. Which of the following is true:

Trade can make both Carl and Jill better off.

There is no room for gains for trade.

When trade occurs the exchange price will be $137.50 but only Carl will be better off

When trade occurs the exchange price will be $137.50 and but only Jill will be better off

When trade occurs the exchange price will between $125 and $150 and both Carl and Jill will be better off







Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 10% with the coupon code: best10