ENGR.ECONOMIC ANALYSIS
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ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Transcribed Image Text:QUESTION 7
To mark national burger day there is a nationwide 50% sale on burgers during May. A recent survey, of those who bought burgers at
supermarkets and food trucks, found that 99% of people will only eat burgers in a bun.
Which of the following statements are true:
The decrease in the price of burgers during May will cause a decrease in the quantity demanded of burgers.
The decrease in the price of burgers in May will cause an increase in both demand and quantity demanded for buns.
The decrease in the price of burgers in May will only result in an increase in the quantity demanded for buns.
Economic theory is unable to predict if there would be any shift in demand for buns with the discount on burgers in May.
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