--%>
Assignment Help - homework help

Effects of price hike in Substitution process

Price hikes for the new cars are probable to cause the demand for employed cars to (1) Shift to the right. (2) Pivot vertically. (3) Shift to the left. (4) Become more horizontal.

Can someone please help me in finding out the accurate answer from the above options.

   Related Questions in Microeconomics

  • Q : Problem on Substitution effect for good

    One of my friend has a problem on substitution effect. The original equilibrium point (that is utility-maximizing bundle) in the graph shown below is at point A. The price of good Y is increased, pivoting the budget constraint down to its latest level.a. F

    		•
  • Q : Problem onto public sector The word “

    The word “public sector” signifies to: (1) Stockholders and households. (2) Investors and Consumers. (3) Households and investors. (4) Democratic voting systems. (5) All actions of government. Hey frien

    		•
  • Q : Define the term privatization What do

    What do you mean by the term privatization?

    		•
  • Q : Practicing for predatory pricing A firm

    A firm which practices predatory pricing as: (w) tends to incur short-run losses greater than its rival. (x) lowers its price to drive out its rival and then keeps the price low to discourage extra entry. (y) will sell similar amount of output as when

    		•
  • Q : Economic profit at profit-maximizing

    HoloIMAGine has patented a holographic technology which makes 3-D photography obtainable to consumers. When HoloIMAGine produces its profit-maximizing output, this is demonstrated as: (w) operating in the long run. (x) realizing an economic profit equ

    		•
  • Q : Minimum-wage Select the right ans wer

    Select the right ans wer of the question. Critics of minimum-wage legislation argue that it: A) keeps inefficient producers in business. B) reduces employment.C) undermines incentives to work. D) is deflationary.

    		•
  • Q : Minimum Wage Laws-Group least likely to

    Can someone help me in finding out the right answer from the given options. The group which is least likely to be helped by the minimum wage law is: (1) African-American teenagers. (2) Skilled industrial workers. (3) Members of the unions. (4) Experienced construction

    		•
  • Q : Principles of Macroeconomics Questions

    (a) Explain the relationship between full employment of resources and full production. (b) Look at the following production possibilities curve illustrating the possibilities in Sluggerville for producing bats and/or p

    		•
  • Q : Problem on substitution effect The

    The substitution effect is the modification in purchases of a good which outcome from a change only in: (1) Tastes and preferences. (2) Its associative price. (3) Real national income. (4) The wealth of consumer. P

    		•
  • Q : Problem regarding Privatization I have

    I have a problem in economics on Problem regarding Privatization. Please help me in the following question. The procedure of transforming government-run production facilities into ‘for-profit’ businesses is: (i) Privatization. (ii) Cartelization. (iii) Cap

    		•