Question: Identify the determinant (shifter) then decide if demand will increase or decrease. Hamburgers (a normal good) 1. Population boom 2. Incomes fall due to
Identify the determinant (shifter) then decide if demand will increase or decrease. Hamburgers (a normal good) 1. Population boom 2. Incomes fall due to recession 3. Price of tacos, a substitute, decreases 4. Price increases to $5 for hamburgers 5. New health craze- "No ground beef 6. Hamburger restaurants announce that they will significantly increase prices NEXT month 7. Price of fries, a complement, increases
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