Pamilya Dalisay is a big family. they love to eat beef adobo everyday. Four members of the family left to work abroad. How will it affect their buying behavior for beef? a. Quantity demanded for beef will remain constant b. Quantity demanded for beef will decrease c. Quantity demanded for beef will increase d. Quantity demanded will affect the supply for beef When the supply of alcohol in the market declines in the current times a. Quantity demanded for it diminishes b. Quantity demanded for it increases c. Price of the alcohol increases d. Price of the alcohol decreases

Pamilya Dalisay is a big family. they love to eat beef adobo everyday. Four members of the family left to work abroad. How will it affect their buying behavior for beef? a. Quantity demanded for beef will remain constant b. Quantity demanded for beef will decrease c. Quantity demanded for beef will increase d. Quantity demanded will affect the supply for beef When the supply of alcohol in the market declines in the current times a. Quantity demanded for it diminishes b. Quantity demanded for it increases c. Price of the alcohol increases d. Price of the alcohol decreases

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter4: Supply And Demand: An Initial Look

Section: Chapter Questions

Problem 2DQ

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17. After analyzing the demand for his products, Ahmed realized that the demand for his products is inelastic. This means that, _______. a. the demand for his products are weak b. it is fine to increase his price c. the demand for his products are sensitive to price changes d. it is not advisable to increase his price
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