Consider the Market for Feather Pillows

question 26

Multiple Choice

Consider the market for feather pillows.If there is an increase in the price of feather dusters,a substitute in production for feather pillows,then

• A) the price of feather pillows decreases.
• B) the demand curve for feather pillows shifts leftward.
• C) the supply curve for feather pillows shifts leftward.
• D) there is a downward movement along the demand curve for feather pillows.
• E) the demand curve for feather pillows shifts rightward.

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Definitions:

Physical Delivery

The actual transfer of an asset from seller to buyer or fulfilling a contractual agreement by transferring the physical commodity or asset.

Personal Property

Movable properties such as furniture, automobiles, and electronics, as opposed to real estate or immovable property.

Transfer of Title

The legal process of transferring ownership of property or assets from one person or entity to another.

Bailment

A legal relationship in which physical possession of personal property is transferred from one person to another under the agreement that the property will be returned.