Exhibit 4-1

-Refer to Exhibit 4-1.The exhibit shows a demand curve for dog ownership.Suppose the local government passes an anti-dog-litter law that raises the personal cost of owning a dog from C to C'.What will happen to the quantity of dogs demanded?

Question

Exhibit 4-1
 
-Refer to Exhibit 4-1.The exhibit shows a demand curve for dog ownership.Suppose the local government passes an anti-dog-litter law that raises the personal cost of owning a dog from C to C'.What will happen to the quantity of dogs demanded?

Quizplus · Accepted Answer

The anti-dog-litter law raises the personal cost of owning a dog, which increases the price of owning a dog. As a result, demand for dogs will decrease, causing a shift to the left along the demand curve, leading to a decrease in the quantity of dogs demanded. Therefore, the best choice is C.

Exhibit 4-1 -Refer to Exhibit 4-1.The Exhibit Shows a Demand Curve for a Demand