Homework Answers
Answer 17. c. quantity, price
Reason- If both demand and supply increases, the quantity imcreases for sure. But the change in price is uncertain, as it depends on the intensity of change of demand and supply.
Answer 18. True
Reason- Lower resource cost means fall in cost of production. This leads to the shift of supply curve to the right. Given the demand curve it leads to fall in prices and rise in quantity.
Answer 19. False
Reason- Turkey and chicken are substitute goods. A fall in the price of turkey will lead to a rise in demand for turkey and a fall in the demand for chicken. This will lead to fall in the price of chicken.
Answer 20. False
Reason- When price is below Equilibrium price level, demand is greater than supply. So there is excess demand in the market.
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Question 17 0.25 pts 17. If both supply and demand increase, will increase, and is unclear....
15. Recent research has discovered that consumers are drinking less soda because of a decline in...
15. Recent research has discovered that consumers are drinking less soda because of a decline in its popularity. Which determinant of demand does this represent? changes in income changes in buyers' expectations changes in the price of related goods d. changes in tastes and preferences Sod equilibrium price and a 16. If the supply curve shifts to the left, the result is a equilibrium quantity. lower; lower lower; higher higher; lower d. higher; higher soos will increase, and is unclear....
DQuestion 1 2 pts The dynamic laws of supply and demand tell us that: prices have...
DQuestion 1 2 pts The dynamic laws of supply and demand tell us that: prices have a natural tendency to rise or increase even when the quantity supplied equals the quantities demanded. excess demand leads to a tendency of prices to fall or decrease. the greater the excess supply, the greater the tendency of prices to fall or decrease. excess supply leads to a tendency of prices to rise or increase. D Question 2 2 pts Simple Supply and Demand...
C. an increase in quantity supplied d. a decrease in supply QUESTION 17 Which of the...
C. an increase in quantity supplied d. a decrease in supply QUESTION 17 Which of the following would NOT be a determinant of demand? a. the price of related goods b.income C. expectations d. the prices of the inputs used to produce the good QUESTION 18 You love. You hear on the news that 50% of the world's banana crop has been wiped out because of a virus, which will cause the price to double by the end of the...
Question 18 0.5 pts 18. A decrease in the price of peanut butter will increase both...
Question 18 0.5 pts 18. A decrease in the price of peanut butter will increase both the equilibrium price and quantity in the market for jelly. O True False Question 19 0.5 pts 19. The cross-price elasticity of demand for bacon and eggs likely would be negative because bacon and eggs are complements for many people. O True O False
D Question 19 0.1 pts When supply shifts to the right and demand stays constant, the...
D Question 19 0.1 pts When supply shifts to the right and demand stays constant, the equilibrium price: increases and the equilibrium quantity decreases. increases and the equilibrium quantity increases, decreases and the equilibrium quantity decreases. decreases and the equilibrium quantity increases. stays the same and the equilibrium quantity increases. Question 20 0.1 pts If the price of a good increases, holding all else constant, o the demand for all of that good's substitutes will decrease. the quantity demanded for...
Plz give answer to follwoing multiple choices Question 1 0.25 pts market, the product is homogeneous,...
Plz give answer to follwoing multiple choices
Question 1 0.25 pts market, the product is homogeneous, and there are many buyers and 1. In a sellers. a. monopoly Ob.competitive O c. simple O d. complex Question 3 0.25 pts 3. The effect describes the change in consumer purchasing power that occurs when the price of a good changes. O a. demand O b.supply O c. income O d. substitution Question 4 0.25 pts 4. The price of chicken has doubled....
Please help with these questions, Question 17 0.16 pts During the winter months, many elderly people...
Please help with these questions,
Question 17 0.16 pts During the winter months, many elderly people leave their homes in northern New York and travel south to Florida or Arizona. What would we expect to happen to the equilibrium price and quantity of items most used by the elderly in northern New York? One would increase and one would decrease, but we don't know which would do what O They would both increase. O The price would decrease and the...
Question 40 An increase in the supply of gasoline, ceteris paribus, will cause equilibrium price: To...
Question 40 An increase in the supply of gasoline, ceteris paribus, will cause equilibrium price: To rise and quantity to fall. To fall and quantity to rise. And quantity to rise. And quantity to fall Question 41 Assume two goods are substitutes. Ceteris paribus, a decrease in the price of one good will cause the equilibrium price of the other good to: Increase and the equilibrium quantity of the other good to increase Increase and the equilibrium quantity of the...
cm Od these products are usually substitutes to the gas sales and the demand for gas...
cm Od these products are usually substitutes to the gas sales and the demand for gas is inelastic QUESTION 27 Assumptions that under lie the Resource-based View include a. Resource heterogeneity b. Resource immobility Oo. Barriers to entry Od. Botha and b QUESTION 28 A supply curve slopes upwards because On the higher the price the higher the quantity that the sellers are willing to supply b. an increase in price brings the quantity sold down to zero the quantity...
Question 2 (1 point) A decrease in supply shifts the supply curve to the left. True...
Question 2 (1 point) A decrease in supply shifts the supply curve to the left. True False Question 4 (1 point) The equilibrium price is the same as the market-clearing price. True False Question 5 (1 point) When the market price is above the equilibrium price, the quantity of the good demanded exceeds the quantity supplied. True False Question 6 (1 point) Which of the following events must cause equilibrium price to fall? a) demand increases and supply decreases b)...
15. Recent research has discovered that consumers are drinking less soda because of a decline in its popularity. Which determinant of demand does this represent? changes in income changes in buyers' expectations changes in the price of related goods d. changes in tastes and preferences Sod equilibrium price and a 16. If the supply curve shifts to the left, the result is a equilibrium quantity. lower; lower lower; higher higher; lower d. higher; higher soos will increase, and is unclear....
DQuestion 1 2 pts The dynamic laws of supply and demand tell us that: prices have a natural tendency to rise or increase even when the quantity supplied equals the quantities demanded. excess demand leads to a tendency of prices to fall or decrease. the greater the excess supply, the greater the tendency of prices to fall or decrease. excess supply leads to a tendency of prices to rise or increase. D Question 2 2 pts Simple Supply and Demand...
C. an increase in quantity supplied d. a decrease in supply QUESTION 17 Which of the following would NOT be a determinant of demand? a. the price of related goods b.income C. expectations d. the prices of the inputs used to produce the good QUESTION 18 You love. You hear on the news that 50% of the world's banana crop has been wiped out because of a virus, which will cause the price to double by the end of the...
Question 18 0.5 pts 18. A decrease in the price of peanut butter will increase both the equilibrium price and quantity in the market for jelly. O True False Question 19 0.5 pts 19. The cross-price elasticity of demand for bacon and eggs likely would be negative because bacon and eggs are complements for many people. O True O False
D Question 19 0.1 pts When supply shifts to the right and demand stays constant, the equilibrium price: increases and the equilibrium quantity decreases. increases and the equilibrium quantity increases, decreases and the equilibrium quantity decreases. decreases and the equilibrium quantity increases. stays the same and the equilibrium quantity increases. Question 20 0.1 pts If the price of a good increases, holding all else constant, o the demand for all of that good's substitutes will decrease. the quantity demanded for...
Plz give answer to follwoing multiple choices
Question 1 0.25 pts market, the product is homogeneous, and there are many buyers and 1. In a sellers. a. monopoly Ob.competitive O c. simple O d. complex Question 3 0.25 pts 3. The effect describes the change in consumer purchasing power that occurs when the price of a good changes. O a. demand O b.supply O c. income O d. substitution Question 4 0.25 pts 4. The price of chicken has doubled....
Please help with these questions,
Question 17 0.16 pts During the winter months, many elderly people leave their homes in northern New York and travel south to Florida or Arizona. What would we expect to happen to the equilibrium price and quantity of items most used by the elderly in northern New York? One would increase and one would decrease, but we don't know which would do what O They would both increase. O The price would decrease and the...
Question 40 An increase in the supply of gasoline, ceteris paribus, will cause equilibrium price: To rise and quantity to fall. To fall and quantity to rise. And quantity to rise. And quantity to fall Question 41 Assume two goods are substitutes. Ceteris paribus, a decrease in the price of one good will cause the equilibrium price of the other good to: Increase and the equilibrium quantity of the other good to increase Increase and the equilibrium quantity of the...
cm Od these products are usually substitutes to the gas sales and the demand for gas is inelastic QUESTION 27 Assumptions that under lie the Resource-based View include a. Resource heterogeneity b. Resource immobility Oo. Barriers to entry Od. Botha and b QUESTION 28 A supply curve slopes upwards because On the higher the price the higher the quantity that the sellers are willing to supply b. an increase in price brings the quantity sold down to zero the quantity...
Question 2 (1 point) A decrease in supply shifts the supply curve to the left. True False Question 4 (1 point) The equilibrium price is the same as the market-clearing price. True False Question 5 (1 point) When the market price is above the equilibrium price, the quantity of the good demanded exceeds the quantity supplied. True False Question 6 (1 point) Which of the following events must cause equilibrium price to fall? a) demand increases and supply decreases b)...
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