This graph illustrates the demand for a normal good. A movement from A to C on the graph presented can be caused by: • a) a price decrease. • b) a decrease in income. • c) a price increase. • d) an increase in income.

As the price of bananas increases, ceteris paribus, the law of demand implies A. the quantity of bananas demanded will decrease. B. the demand for bananas will decrease. C. the quantity of bananas demanded will increase. D. the demand for bananas will increase.

Suppose that the table on the right shows the quantity demanded of UGG boots at five different prices in 2014 and in 2015. Which of the following variables could cause the quantity demanded of UGG boots to change as indicated from 2014 to 2015? (Check all that apply.) A. An increase in the price of UGG boots B. A decrease in the price of a substitute good C. A decrease in the number of buyers D. The expectation that UGG boots will rise in price Price $160 170 180 190 200 Quantity Demanded 2014 5000 4500 4000 3500 3000 Quantity Demanded 2015 4000 3500 3000 2500 2000

P A D quantity Refer to Figure 4-1. The movement from point A to point B on the graph shows a(n) a. decrease in demand. b. increase in demand. C. decrease in quantity demanded. d. increase in quantity demanded.