Question

For the last 6 months, Troy's daily snack has consisted of appkes and peanut butter. Sunday is the day troy's does his grocery shopping. On the way into the grocery store he inds a crisp $100 bill. as he began shopping Sunday morning for his weekly supplies to prep his weekly means, he notices the price of apples had increase by $2 since last week. This week, Troy's daily snack this week is now yogurt and granola. What factor would account for the change in demand?
a) The income Effect
b) Consumer Expectations
c) Consumer Taste and Advertising
d) The price of related goods

Answer 1

The anwser is a)

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