In a recession, consumers have less income to spend. As a result, if dining out is a normal good, then which of the following would happen to the demand curve for dining out?
A) The demand curve would shift rightward.
B) The demand curve would not shift but the price of dining out would fall.
C) The effect on the demand curve is unknown.
D) The demand curve would not shift but the price of dining out would rise.
E) The demand curve would shift leftward.
Correct Answer:
Verified
Q25: Q26: Q27: Consider the market for smart phones. Which Q28: Two minute noodles are a staple food Q29: If the demand for digital cameras increases Q31: A popular dinner among university students today Q32: The impact of an increase in the Q33: Scooters are a normal good and buyers' Q34: Which of the following increases the demand Q35: Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents![]()
![]()
![]()