1.6- Market Demand (part 1)
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True
A decrease in the price of popcorn will increase the quantity demanded of popcorn.
False
An increase in the price of potato chips, a substitute for popcorn, will cause the demand curve for popcorn to shift to the left.
True
Popcorn consumers that experience diminishing marginal utility will be willing to pay lower prices for more popcorn.
True
The demand for popcorn is determined by the number of producers that are willing and able to produce popcorn.
