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6. Will each of the following events result in a movement along the demand curve or...

6. Will each of the following events result in a movement along the demand curve or a shift (left or right?) of the demand curve for McDonald’s Big Mac hamburgers?

a. The price of Burger King’s Whopper hamburger declines.

b. McDonald’s distributes coupons for $1.00 off the purchase of a Big Mac

c. Because of a shortage of potatoes, the price of French fries increases

d. Fast-food restaurants post nutrition warning labels

e. The U.S. economy enters a period of rapid growth in incomes.

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Answer #1

ANSWER:

1) Demand for mcdonald big mac hamburgers will decrease as burger king is a substitute. (left)

2) A movement along the demand curve for mcdonald big mac . (right)

3) Demand decreases for big mac burgers. (left) as they are complements.

4) demand decreases for big mac burgers as they will eat healthier food. (left)

5) demand will decrease as if it is a inferiror good. (left) and demand will increase if it is a normal good (right)

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