Figure 2-21
-Refer to Figure 2-21. Which of the following could be an omitted variable in the graph?
A)the price of snowblowers
B)a change in consumers' incomes
C)a change in the seasons
D)All of the above are correct.

Question

Figure 2-21 
-Refer to Figure 2-21. Which of the following could be an omitted variable in the graph?
A)the price of snowblowers 
B)a change in consumers' incomes 
C)a change in the seasons 
D)All of the above are correct.

Quizplus · Accepted Answer

All of the above could be omitted variables in the graph as they can also affect the demand for snow shovels. The price of snowblowers could affect the demand for snow shovels as consumers may choose to purchase a snowblower instead. A change in consumers' incomes could affect the demand for snow shovels as consumers with higher incomes may choose to purchase a more expensive snow removal tool. A change in seasons could also affect the demand for snow shovels as consumers may prefer to use snowblowers or other tools during certain weather conditions.

Figure 2-21 -Refer to Figure 2-21. Which of the Following Could Be