Problem
1. What variables other than price and advertising are likely to affect the quantity demanded of a product?
2. Describe the probable shifts in the demand curves for
a. Airplane trips when airlines' on-time performance improves
b. Automobiles when airplane fares increase
c. Automobiles when gasoline prices increase
d. Electricity when the average temperature in the United States rises during a particular year (Note: The demand curve for electricity in Maine and the demand curve for electricity in Florida should respond in different ways. Why?)
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.