Asked by
Alera Dickerson
on Dec 11, 2024
Verified
Which of the following will cause a decrease in the demand for peanut butter?
A) an increase in the supply of peanut butter
B) an increase in the price of peanut butter
C) a doubling of the price of bread
D) a drought in Georgia that destroyed 30 percent of the peanut crop
E) an increase in consumer income
Peanut Butter
A food paste or spread made from ground, dry-roasted peanuts.
Consumer Income
The total amount of money earned by an individual or household that affects their buying habits and purchasing power.
- Identify the effects of complementary and substitute goods on demand.
- Acquire knowledge on how shifts in consumer income influence the demand for goods.
Verified Answer
SM
Learning Objectives
- Identify the effects of complementary and substitute goods on demand.
- Acquire knowledge on how shifts in consumer income influence the demand for goods.