Homework Answers
Option 4. All of the above
Explanation: When the price of a substitute goes up, the quantity demanded for the good increases at each price. Therefore, the demand curve shifts towards the right.
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Suppose X and Y are substitutes, if the price of Y goes up: then the demand for X increases. then the demand curve for...
Suppose that a rise in average income increases the demand for preventative dental visits. a. The...
Suppose that a rise in average income increases the demand for
preventative dental visits.
a. The increase in income leads to an increase
in (quantity supplied OR supply). This is because, as demand
increases, (the supply curve shifts to the right to accommodate the
increase in demand OR the equilibrium quantity moves up the supply
curve to a higher price and more quantity supplied).
b. Shift the appropriate curve or curves below
to show the effect of this change.
Market...
The price of good A goes up. As a result the demand for good shifts to...
The price of good A goes up. As a result the demand for good shifts to the left. From this we can infer that: O good A is a normal good. good B is an inferior good. O goods A and B are complements. O goods A and B are substitutes,
If the price of hamburger buns increases, what happens to the demand curve for hamburger? O...
If the price of hamburger buns increases, what happens to the demand curve for hamburger? O Does not shift Shifts to the right • Shifts to the left
If the price level increases, then O A. the aggregate demand curve will shift to the...
If the price level increases, then O A. the aggregate demand curve will shift to the left. O B. the aggregate demand curve will shift to the right. O C. there will be a movement up along a stationary aggregate demand curve. O D. none of the above will occur.
Suppose X and Y are substitutes and are both normal goods. Assume X is on the...
Suppose X and Y are substitutes and are both normal goods. Assume X is on the horizontal axis and Y is on the vertical axis. If the price of X increase, which of the following will NOT happen? A) The slope of the income offer curve will become flatter B) The slope of the income offer curve will become steeper C) The Engel Curve for X will become steeper/ "shift" to the left D) The Engel Curve for Y will...
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....
1. All the following shift the demand curve for cardiology services to the right except: a....
1. All the following shift the demand curve for cardiology services to the right except: a. a new cardiologist opens an office in town. b. the local factory gives a big raise to its employees. c. the price of an exercise stress test (also called exercise electrocardiogram, treadmill test or stress EKG) falls. d. None of the Above. 2. Assume the market for retail clinics is competitive. What happens in the market for retail clinics when the price of emergency...
3. The price of good A goes up As a result the demand for good B...
3. The price of good A goes up As a result the demand for good B shifts to the left. From this we can i nfer that: A. good A is a normal good.. B. good B is an inferior good. C. goods A and B are substitutes. D. goods A and B are complements. 4,说一说微观经济学和宏观经济学的区别。
Working with supply and demand curves. Draw a supply and demand curve and show the equilibrium...
Working with supply and demand curves. Draw a supply and demand curve and show the equilibrium price and quantity. (5 pts) B. Assume that the good is a normal good and that income increases. What happens to equilibrium price and quantity? Show graphically and describe in words. (5 pts) 2. Suppose that the own price elasticity of demand for physician visits is 0.5. A. What happens to the demand for physician visits if price goes up by 20%? Explain. (5...
When the price level falls, aggregate demand ______. decreases and the AD curve shifts leftward does...
When the price level falls, aggregate demand ______. decreases and the AD curve shifts leftward does not change, but the quantity of real GDP demanded decreases and a movement up along the AD curve occurs does not change, but the quantity of real GDP demanded increases and a movement down along the AD curve occurs increases and the AD curve shifts rightward When Europe trades with Mexico and goes into a recession, ______.
Suppose that a rise in average income increases the demand for
preventative dental visits.
a. The increase in income leads to an increase
in (quantity supplied OR supply). This is because, as demand
increases, (the supply curve shifts to the right to accommodate the
increase in demand OR the equilibrium quantity moves up the supply
curve to a higher price and more quantity supplied).
b. Shift the appropriate curve or curves below
to show the effect of this change.
Market...
The price of good A goes up. As a result the demand for good shifts to the left. From this we can infer that: O good A is a normal good. good B is an inferior good. O goods A and B are complements. O goods A and B are substitutes,
If the price of hamburger buns increases, what happens to the demand curve for hamburger? O Does not shift Shifts to the right • Shifts to the left
If the price level increases, then O A. the aggregate demand curve will shift to the left. O B. the aggregate demand curve will shift to the right. O C. there will be a movement up along a stationary aggregate demand curve. O D. none of the above will occur.
1. All the following shift the demand curve for cardiology services to the right except: a. a new cardiologist opens an office in town. b. the local factory gives a big raise to its employees. c. the price of an exercise stress test (also called exercise electrocardiogram, treadmill test or stress EKG) falls. d. None of the Above. 2. Assume the market for retail clinics is competitive. What happens in the market for retail clinics when the price of emergency...
3. The price of good A goes up As a result the demand for good B shifts to the left. From this we can i nfer that: A. good A is a normal good.. B. good B is an inferior good. C. goods A and B are substitutes. D. goods A and B are complements. 4,说一说微观经济学和宏观经济学的区别。
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