If consumer tastes for home school education increases over time there will be:?
An increase in the quantity of home school curricula demanded.
A decrease in the demand for home school tutors.
A decrease in the price of home school curricula.
An increase in the demand for home school curricula.
No change in the demand for home school tutors.
Answer:
"An increase in the demand for home school curricula."
Since there is change in taste (or preference) it would shift the entire demand curve. So there would be an increase in demand.
A, C, and D
"A" will happen in the short term.
"C" because the market for materials will grow and become more competitive, and over the long run this will run the price down. Although there are many possibilities that will make my answer wrong. So in other words, it depends.
"D" because demand will shift to the right (on a graph) over the long run.
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