Determine which of the demand curve shifters (PYNTE) would apply to each situation. Explain whether the event will increase or decrease demand for movie tickets. Tell whether the demand curve shifts to the right or to the left. a. A decrease in the incomes of consumers of movies. b. An increase in the price of Red Box movie rentals. c. An increase in the number of consumers in the market for movies.
a. A decrease in the incomes of consumers of movies.
Decrease demand as movies is a normal good.
Demand curve will shift to the left.
b. An increase in the price of Red Box movie rentals.
Increase demand for movies as going to movies and movie rentals are
substitutes.
Demand curve will shift to the right.
c. An increase in the number of consumers in the market for
movies.
Increase demand for movies. Market demand is summation of
individual demand.
Demand curve will shift to the right.
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