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Consider the price and demand for tickets to travel by sea ferry. The price of travelling by hovercraft (a substitute form of travel) goes up. Which ONE of the following would you expect to happen? A. The demand curve for sea ferry tickets will shift to the right, and their price will go up. More ferry tickets will be sold. B. The demand curve for sea ferry tickets will shift to the right and their price will go down. More sea ferry tickets will be sold. C. The demand curve for sea ferry tickets will shift to the right and their price will go up. Fewer sea ferry tickets will be sold. D. The demand curve for sea ferry tickets will shift to the left, and their price will go down. More sea ferry tickets will be sold. |