All Things Constant, a Decrease in Bus, Train, and Airplane

question 365

Multiple Choice

All things constant, a decrease in bus, train, and airplane fares will

• A) shift the demand curve for automobiles to the left.
• B) cause a movement along the demand curve for automobiles.
• C) shift the demand curve for automobiles to the right.
• D) have no impact on the demand curve for automobiles.

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Definitions:

Externality Effect

The impact of one person's actions on the well-being of a bystander, which may be positive or negative and not reflected in market prices.

Network Externality

Situation in which each individual’s demand depends on the purchases of other individuals.

Emphysema

A chronic respiratory disease characterized by the destruction of air sacs in the lungs, leading to breathing difficulties and reduced oxygen exchange.

Blood Ph

A measure of the hydrogen ion concentration in the blood, reflecting its acidity or alkalinity, vital for maintaining homeostasis in the body.