From 1970 to 2010, the Real Price of Eggs Decreased

question 112

Multiple Choice

From 1970 to 2010, the real price of eggs decreased and the total annual consumption of eggs decreased. Which of the following would cause an unambiguous decrease in the real price of eggs and an unambiguous decrease in the quantity of eggs consumed?

• A) A shift to the right in the supply curve for eggs and a shift to the right in the demand curve for eggs.
• B) A shift to the left in the supply curve for eggs and a shift to the right in the demand curve for eggs.
• C) A shift to the left in the supply curve for eggs and a shift to the left in the demand curve for eggs.
• D) none of the above

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Definitions:

Objective and Task

A method of setting marketing budgets based on defining specific objectives and then estimating the costs of the tasks necessary to achieve these objectives.

Linear Forecast

A mathematical technique used to predict future data points by analyzing the linear relationship between variables.

All-You-Can-Afford

A pricing strategy that bases the price on the customer's ability to pay, rather than fixed pricing.

Promotion-to-Sales Ratio

A metric that compares the cost of marketing and promotion activities to the revenue generated from sales.