According to economic theory, which of the following would most likely cause the demand curve for hamburgers to decrease?
A) a drop in the price of hot dogs
B) an increase in the price of hamburgers
C) a drop in the price of hamburgers
D) a technological advance that reduces the cost of making frozen hamburger patties.

Question

Quizplus · Accepted Answer

A drop in the price of hot dogs, a substitute good, would likely cause consumers to buy more hot dogs instead of hamburgers, thus decreasing the demand for hamburgers.

According to Economic Theory, Which of the Following Would Most