Graph:
1. Computers and printers are complements. Illustrate the demand curve for computers as printer prices decline.
2. Fords and Toyotas are substitutes. Illustrate the demand curve for Toyotas as Ford prices decline.
3. Illustrate the demand curve for Fords. Illustrate the impact of consumers expecting a 10% price reduction for Ford products.
4. Illustrate the demand curve for Fords. Illustrate a 10% price reduction for Ford products.
5. Illustrate the demand curve for ice cream. Illustrate an increase in consumer incomes.
Law of Demand
Diminishing Marginal Utility
Normal vs Inferior Goods
Elasticity of Demand
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