Which of the Following Would Cause the Equilibrium Price of White

question 227

Multiple Choice

Which of the following would cause the equilibrium price of white bread to decrease and the equilibrium quantity of white bread to increase?

• A)a decrease in the price of flour
• B)an increase in the price of flour
• C)an increase in the price of rye bread, a substitute for white bread
• D)an increase in the price of butter, a complement for white bread

Understand the role of descriptive and injunctive norms in shaping consumer behaviour.

Identify obstacles to predicting behaviour with the theory of reasoned action and the Fishbein models.

Appreciate modifications made to the original Fishbein model to improve attitude-behaviour predictions.

Understand and describe the concept of descriptive norms.

---

Definitions:

Unfamiliar Settings

Environments or situations that are not known or recognized by an individual, often requiring adaptation or learning.

Systematic Cultural Differences

The consistent and distinctive variations in the norms, values, attitudes, and behaviors among cultures that can impact interactions and operations in a global context.

Relationships

A connection, association, or involvement between people or entities.

Attitudes Toward Environment

The opinions, beliefs, and feelings individuals hold regarding the environment and environmental practices.