Discuss four (4) factors that affect an individual demand curve.

1. Dave Grohl wants to buy drums and guitars. Drums are sold in an unusual way. There is only one supplier, and the more drums you buy from him, the higher the price you have to pay per unit. In fact, y units of drums will cost Dave y² dollars. Guitars are sold in the usual way at a price of 2 dollars per unit. Dave's income is 20 dollars, and his utility function is U (x,y) = x+2y, where x is his consumption of guitars and y is his consumption of drums. A. Sketch Dave's budget set and shade its in. B. Sketch some of his indifference curves and label the point that he chooses. C. Calculate the number of drums and guitars that Dave demands at these prices and this income.

Consider two markets: the market for waffles and the market for pancakes. The initial equilibrium for both markets is the same, the equilibrium price is $6.50, and the equilibrium quantity is 35.0. When the price is $9.75, the quantity supplied of waffles is 57.0 and the quantity supplied of pancakes is 101.0. For simplicity of analysis, the demand for both goods is the same. Using the midpoint formula, calculate the elasticity of supply for pancakes. Please round to two decimal places. Supply in the market for waffles is

Don't use chat gpt otherwise I downvote the answer    The graph below depicts the market for tea. Suppose the price of coffee increases (the two goods are substitutes in consumption). Which of the following statements shows the change in the market for tea? a) The demand curve will shift from D₁ to D₂. b) The demand curve will shift from D₁ to D3. c)There will be a change in the quantity demanded from Point a to Point b. d) There will be a change in the demand from point b to point a

When the price of sugar was "low," consumers in the United States spent a total of $3 billion annually on its consumption. When the price doubled, consumer purchases actually decreased to $2 billion annually. This indicates that Multiple Choice the demand curve for sugar is upward sloping. the demand for sugar is elastic. sugar is a Giffen good. the demand for sugar is relatively inelastic. O

Note: The answer should be typed.

Which of the following will cause a movement when looking at an individual’s demand curve?         Price         The Availability of Alternative Goods     Tastes and Preferences         Changes in income

Will an increase in the price of a complementary good outwardly shift the demand curve?

Answer this for me mate. Much appreciated.

A 5 percent decrease in the price of avocados leads to a 20 percent increase in the quantity of salsa demanded. It appears that:   Question 26 options:   Salsa and avocados have a secret relationship that no one (except for the bananas) knows about.   salsa is a complement good to avocados.   salsa is a substitute good to avocados.   there is no relationship between demand for salsa and demand for avocados.