Assume that consumers consider popcorn and pretzels to be substitutes. A significant decrease in the supply...
Assume that consumers consider popcorn and pretzels to be substitutes. A significant decrease in the supply of popcorn will affect the pretzel market by
(a) increasing the demand for pretzels and therefore the supply of pretzels
(b) increasing the supply of pretzels and therefore the price of pretzels
(c) decreasing the demand for pretzels and therefore the price of pretzels
(d) increasing the demand for pretzels and therefore the price of pretzels
Homework Answers
Ans) the correct option is d) increasing the demand for pretzels and therefore the price of pretzels.
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Assume that consumers consider popcorn and pretzels to be
substitutes. A significant decrease in the supply...
Consider Coke and Pepsi, two goods that are considered substitutes by consumers. Which of the following...
Consider Coke and Pepsi, two goods that are considered substitutes by consumers. Which of the following provides the most accurate description of the relation between these goods? a) An increase in the price of Coke will not affect the market demand for Pepsi b) An increase in the price of Coke leads to a decrease in demand for Pepsi c) An increase in the price of Coke leads to an increase in demand for Pepsi d) An increase in the...
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Suppose households consider diamonds (D) and emeralds (E) as substitutes. Let the supply of both be fixed in the market...
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If the number of consumers in a market increases, the market demand curve will a. decrease,...
If the number of consumers in a market increases, the market demand curve will a. decrease, which is a shift to the left of the demand curve. b. increase, which is a shift to the right of the demand curve. c. not shift, but rather this will just cause a movement along the demand curve. d. do none of the above. In the competitive price-taker model, all firms in the market are assumed to be producing a. complementary products. b....
please answer all the multiple choices 16 through 20 d a decrease in the supply of...
please answer all the multiple choices 16 through 20
d a decrease in the supply of leftuce an increase in the price and a decrease in the quanitity demanded Assume that pink salmon is a normal good and consumers income increases You accurately predict that in the market for pink salmon, there will be a an increase in the demand of pink salmon, an increase in the price and an increase in quantity supplied b an increase in the quantity...
Assume that pink salmon is a normal good and consumers' income increases You accurately predict that in the mar...
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16. Assume that pink salmon is a normal good and consumers' income increases. You accurately predict that in the ma...
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Suppose households consider diamonds (D) and emeralds (E) as substitutes. Let the supply of both be fixed in the market period at D 100 and E = 200. The inverse demand functions for diamonds and emeralds are give by: 3. Po = 450 - D1/2pE PE 300 EPD b. Assume that a new discovery of diamonds increases the quantity supplied to 200 units. How will this affect the equilibrium prices?
please answer all the multiple choices 16 through 20
d a decrease in the supply of leftuce an increase in the price and a decrease in the quanitity demanded Assume that pink salmon is a normal good and consumers income increases You accurately predict that in the market for pink salmon, there will be a an increase in the demand of pink salmon, an increase in the price and an increase in quantity supplied b an increase in the quantity...
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Class Date Einala a6. How does advertising signal to consumers that the product is a good one? a. By seeing famous people using the product, consumers infer that they too can be famoas. b Ry being willing to spend money on advertising, firms let consumers know the product is likely a good one since firms would not likely advertise a poor product. e. By making consumers laugh during commercials, firms are associating positive experiences with the product d. Without allowing...
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