Homework Answers
Answer
Option a
raising prices; less
Excess demand means the quantity demanded is greater than the quantity supplied so the supplier will have shortage in supply and consumers will try to pay high for the good as there is a shortage in the market. The shortage pushes the price up to and reduces quantity demanded.
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Excess demand will result in suppliers consumers to buy prices, which encourages Select one: a. raising...
When there is an excess supply of goods the market increases its costs of production. suppliers...
When there is an excess supply of goods the market increases its costs of production. suppliers lower prices, which encourages consumers to demand more. consumers demand more, causing the price to increase.
Help Which one of the following is not a non-price determinant of demand? Select one: a. The number of consumers b. Producer expectations of future prices c. Tastes and preferences d. Prices of r...
Help Which one of the following is not a non-price determinant of demand? Select one: a. The number of consumers b. Producer expectations of future prices c. Tastes and preferences d. Prices of related goods and services e. Available assets
Help Which one of the following is not a non-price determinant of demand? Select one: a. The number of consumers b. Producer expectations of future prices c. Tastes and preferences d. Prices of related goods and services e. Available assets
Higher prices A) increase the marginal utility per dollar spent and cause consumers to buy more...
Higher prices A) increase the marginal utility per dollar spent and cause consumers to buy more of a good. B) increase the marginal utility per dollar spent and cause consumers to buy less of a good. C) lower the marginal utility per dollar spent and cause consumers to buy less of a good. D) lower the marginal utility per dollar spent and cause consumers to buy more of a good. E) do not change the marginal utility per dollar.
when consumers are given more time to adjust to higher prices Ос. 50%. D. 2596. QUESTION...
when consumers are given more time to adjust to higher
prices
Ос. 50%. D. 2596. QUESTION 17 When consumers are given more time to adjust to higher prices: OA consumers have more choices from which to select B. consumers keep quantity demanded the same consumers have fewer choices from which to select. D demand becomes less elasti C. QUESTION 18 The demand curve for cigarettes is probably: A. elastic a perfect substitutable good unitary elastic
2. Which of the following examples illustrates the law of demand? A) An increase in tuition...
2. Which of the following examples illustrates the law of demand? A) An increase in tuition encourages more students to enroll in college because the quality of education has risen. B) Consumers buy more personal computers because prices have fallen. C) Oil companies drill for new sources of oil because oil prices are higher D) Fewer people play golf because incomes are lower.
Text questions A tax is imposed per kg. of sugar that consumers buy. Which of the...
Text questions A tax is imposed per kg. of sugar that consumers buy. Which of the following statements is incorrect? Choose one: a. Consumer prices will be higher than before. b. Consumers carry the tax entirely alone. c. The demand curve will be offset to the left. d. The tax entails a loss of welfare. e. Manufacturers receive lower prices than before.
If the economy is producing at capacity and consumers are willing and able to buy more...
If the economy is producing at capacity and consumers are willing and able to buy more goods, then producers will , which will cause inflation A) Produce more goods; cost-push B) Raise prices; demand-pull x C) See production costs rise, demand-pull D) Reduce production, cost-push.
2. Some products compete closely with one another for the consumers' dollars. You may buy one...
2. Some products compete closely with one another for the consumers' dollars. You may buy one or you may buy the other but you probably won't buy both. These products are said to be _ for each other. For these products, if the price of good Brises, the demand for good A For these products, the demand for good A varies directly with the price of good B. If B gets more expensive, the demand for A increases. If B...
When consumers have to buy a good from a monopolist rather than a firm in a...
When consumers have to buy a good from a monopolist rather than a firm in a perfectly competitive market, they will have Select one: a. larger quantities b. higher quality c. higher prices d. more choices
the equilibrium Excess demand occurs when the actual price in some market is_ price. Select one: a. Excess demand...
the equilibrium Excess demand occurs when the actual price in some market is_ price. Select one: a. Excess demand is not linked to price but to quantity b. below c. equal to d. above A supply curve is a graphical illustration of the relationship between quantity supplied and Select one: a. demand. b. price. c. cost of production d. quantity demanded.
Help Which one of the following is not a non-price determinant of demand? Select one: a. The number of consumers b. Producer expectations of future prices c. Tastes and preferences d. Prices of related goods and services e. Available assets
Help Which one of the following is not a non-price determinant of demand? Select one: a. The number of consumers b. Producer expectations of future prices c. Tastes and preferences d. Prices of related goods and services e. Available assets
when consumers are given more time to adjust to higher
prices
Ос. 50%. D. 2596. QUESTION 17 When consumers are given more time to adjust to higher prices: OA consumers have more choices from which to select B. consumers keep quantity demanded the same consumers have fewer choices from which to select. D demand becomes less elasti C. QUESTION 18 The demand curve for cigarettes is probably: A. elastic a perfect substitutable good unitary elastic
2. Which of the following examples illustrates the law of demand? A) An increase in tuition encourages more students to enroll in college because the quality of education has risen. B) Consumers buy more personal computers because prices have fallen. C) Oil companies drill for new sources of oil because oil prices are higher D) Fewer people play golf because incomes are lower.
Text questions A tax is imposed per kg. of sugar that consumers buy. Which of the following statements is incorrect? Choose one: a. Consumer prices will be higher than before. b. Consumers carry the tax entirely alone. c. The demand curve will be offset to the left. d. The tax entails a loss of welfare. e. Manufacturers receive lower prices than before.
If the economy is producing at capacity and consumers are willing and able to buy more goods, then producers will , which will cause inflation A) Produce more goods; cost-push B) Raise prices; demand-pull x C) See production costs rise, demand-pull D) Reduce production, cost-push.
2. Some products compete closely with one another for the consumers' dollars. You may buy one or you may buy the other but you probably won't buy both. These products are said to be _ for each other. For these products, if the price of good Brises, the demand for good A For these products, the demand for good A varies directly with the price of good B. If B gets more expensive, the demand for A increases. If B...
the equilibrium Excess demand occurs when the actual price in some market is_ price. Select one: a. Excess demand is not linked to price but to quantity b. below c. equal to d. above A supply curve is a graphical illustration of the relationship between quantity supplied and Select one: a. demand. b. price. c. cost of production d. quantity demanded.
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