Answer: Andy's demand for beer to increase
Explanation:
Andy's views beer and pizza as complement to each other. Hence when the price of pizza decreases Andy's demand for beer would increase as he would order more beer than pizza so as to complement both offers.
Answer:
No
Explanation:
to determine if another 10% decrease in the price cause another 8% increase (no more and no less) in quantity demanded, we have to determine the price elasticity of demand.
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
8% / 10% = 0.8
demand in inelastic so a 10% reduction in price would lead to a less than 8% change in quantity demanded
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one
Answer: regional shopping center
Explanation: Simply put, a regional shopping center refers to the major retail shopping center covering a city or state's separate geographic area, containing at least one large full-line department store, as well as a variety of other merchants and service companies.
It is designed along at least one complete-size department store and sometimes several; there are several specialty shops and boutiques, and typically there are several establishments.
Hence from the above we can conclude that the given case depicts regional shopping center.
Answer: The answer is that, AD has shifted to exactly $0.35 trillion.
Explanation:
It should be noticed that, AD has been shifted to exactly $0.35 trillion (Rounded in two decimal places.) when the the long-run aggregate supply curve shifted to the right from one year to the next.
