Select which of the following stories describes a shift of the demand curve (and NOT a...

Select which of the following stories describes a shift of the demand curve (and NOT a movement along the demand curve). You must select ALL of the correct answers to receive full credit.

BEDSBEDSBEDS offers a one weekend clearance sale on its beds and mattresses during the third week of college. The low, low prices cause college students to race to replace their furniture.

Exstench raises the price for its laundry detergent, which results in fewer sales and strange scents around college dorms.

In the country of Jeansland, pants that are designed to sag low are no longer in vogue after a series of tragic walking accidents, and sales fall as a result.

Buzzier, an energy drink company, notices students are desperate to stay awake in order to study during final exam week, and change their buying behavior.

Out-N-In, a burger joint with a cult-like national following in the U.S., sells more burgers as the price of chicken increases.

After it earns 1st prize in the “whose tastebuds have been most numbed by years of eating spicy food” category of a cookoff, fans of spicy noodles buy a lot more Double Burn brand ramen noodles.

Solutions

Expert Solution

The shift in the demand curve happens due to factors other than the change in its price such as a rise in income, consumers tastes and preferences etc whereas a movement along the demand curve happens when there is a change in the products price.

The following will cause a shift in the demand curve:

In the country of Jeansland, pants that are designed to sag low are no longer in vogue after a series of tragic walking accidents, and sales fall as a result.

Buzzier, an energy drink company, notices students are desperate to stay awake in order to study during final exam week, and change their buying behavior.

Out-N-In, a burger joint with a cult-like national following in the U.S., sells more burgers as the price of chicken increases.

After it earns 1st prize in the “whose tastebuds have been most numbed by years of eating spicy food” category of a cookoff, fans of spicy noodles buy a lot more Double Burn brand ramen noodles.

Rahul Sunny answered 1 year ago

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