Here's What We Know About Last Year's Weekly Demand for 2-Night

question 431

Multiple Choice

Here's what we know about last year's weekly demand for 2-night DVD rentals in the Village of Harmony: When P = $3, Qd = 100; at P = $5, Qd = 75; and when P = $7, Qd = 50. This year the village population has increased by 25%. What impact is this most likely to have?

• A) Each individual's demand for DVD rentals will increase.
• B) Each individual's demand curve for DVD rentals will shift to the left.
• C) The market demand curve for DVD rentals shifts left.
• D) The market demand for DVD rentals increases.

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Definitions:

Learned Helplessness

The cognitive, motivational, and emotional deficits that follow a perceived lack of control over important aversive events.

Negative Schema

Persistent and pervasive patterns of thought that shape the way an individual interprets and understands the world, often leading to pessimistic views or expectations.

Depressing Memories

Recollections from the past that evoke feelings of sadness, despair, or hopelessness.