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Homework answers / question archive / Explain whether each of the following statements describes a change in demand or a change in quantity demanded, and spec- ify whether each change represents an increase or a decrease
Explain whether each of the following statements describes a change in demand or a change in quantity demanded, and spec- ify whether each change represents an increase or a decrease. a. Baby Steps Footwear experiences a 40 percent increase in sales of baby shoes during a 3-day, half-price sale. b. Tabitha gets a promotion and 15 percent increase in her salary and decides to reward herself by purchasing a new 3-D television. c. When the price of peaches unexpectedly rises, many con- sumers choose to purchase plums instead. d. Due to potential problems with its breaking system, Asteriod Motors has experienced a decline in sales of its Galactica automobile. e. Antonio, an accountant working for the city of Santa Cristina, decides to forego his annual vacation to Hawaii when word leaks out that the city may be cutting all employees' salaries by 10 percent at the end of the year. 15. For each of the five statements in the previous question
The following is the change which occurred in the described statements:-
a.) A positive change in demand has occurred in Baby Steps Footwear, which means there is an increase in demand of the product. The reason for this positive change is the half-price sale.
b.) A positive change in demand has taken place in Tabitha's case. As she got a promotion which simultaneously has risen her income so, she ultimately demanded more.
c.) Peaches saw a decrease in their quantity demanded due to a rise in their price whereas plums saw a positive change in their quantity demanded.
d.) Due to a potential problem, Asteriod Motors have experienced a negative change in their demand(decrease in demand)n for a particular product(Galactica).
e.) Antonio's case has experienced a negative change in quantity demanded, due to the fear of losing a job.
