As the price of a good increases, all else being equal, consumers will likely purchase .(1 point) A. less of the good because substitutes have become relatively less expensive

B. more of the good because substitutes have become relatively more expensive

C. less of the good because substitutes have become relatively more expensive

D. more of the good because substitutes have become relatively less expensive

Which of the following is not a determinant of demand?(1 point)

A. consumer preferences

B. prices of related goods

C. consumer incomes

D. cost of production



Sunscreen and beach towels are complementary goods. If the price of sunscreen increases, ceteris paribus, .(1 point)

A. the income of consumers will increase

B. the quantity demanded of beach towels will increase for every possible price

C. the income of consumers will decrease

D. the quantity demanded of beach towels will decrease for every possible price


Teenagers frequently purchase similar shoes from one of two major competing shoe manufacturers. If the price of one manufacturer's shoes increases dramatically, teenagers are likely to purchase .(1 point)

A. fewer shoes from the competing manufacturer at any given price, as the two brands are complements

B. more shoes from the competing manufacturer at any given price, as the two brands are substitutes

C. more shoes from the competing manufacturer at any given price, as the two brands are complements

D. fewer shoes from the competing manufacturer at any given price, as the two brands are substitutes