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Twenty one shifts the demand curve for used cars leftward

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Reference no: EM132526633

Determine scenarios below either its TRUE or FALSE. Justify your answer by using any diagram(s) to support your answer.

a) An increase in the incomes of baseball fans in New York leads to a rightward movement along the demand curve but does not shift the demand curve for Yankees tickets.

b) For consumers, chocolate chip cookies and doughnuts are substitutes. So, an increase in the price of chocolate chip cookies will lead to a rightward shift in the demand curve for doughnuts.

c) Young drivers often buy used cars. An increase in the legal driving age to twentyone shifts the demand curve for used cars leftward, whereas lowering the age to fifteen shifts the demand curve rightward.

Reference no: EM132526633

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