Question 4 2 pts When Jodie was a poor college student, she ate many boxes of Kraft Macaroni and Cheese. When she graduated and got a higher-paying job, she swore

Question 4
2 pts
When Jodie was a poor college student, she ate many boxes of Kraft Macaroni and Cheese. When
she graduated and got a higher-paying job, she swore it off and hasn’t had any since.
If many people in the USA are like Jodie and average American income falls, we’d expect to see, in
the market for Kraft Macaroni and Cheese:
O P* up, Q* down
O P* down, Q* up
O P* up, Q* up
O P* down, Q* down
O a movement to the right along the demand curve Question 5
2 pts
Books are produced using labor, ink, and paper. If the price of paper falls, in the market for books we
would expect
O P* down, Q* down
O P* up, Q* down
O) a movement to the right along the supply curve
O P* up, Q* up
O P* down, Q* up

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