Suppose the cost of writing music increases. How will this affect the demand for music? Choose...
Suppose the cost of writing music increases. How will this affect the demand for music? Choose one: A. Demand will increase. B. Demand will decrease. C. Demand will not necessarily change.
Homework Answers
Ans) the correct option is c) Demand will not necessarily change.
When the cost of writing music increases, supply of music decreases.
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Suppose the cost of writing music increases. How will this affect the demand for music? Choose...
How would aggregate demand change if foreign incomes increase and the exchange rate value of the...
How would aggregate demand change if foreign incomes increase and the exchange rate value of the dollar increases? a. Neither change would affect aggregate demand. b. The increase in income would decrease aggregate demand; the increase in the exchange rate would increase aggregate demand. c. The increase in income would increase aggregate demand; the increase in the exchange rate would decrease aggregate demand. d. Both changes would decrease aggregate demand If the exchange rate value of the dollar depreciates relative...
2. (1 point) Suppose the government increases its purchases. How does this change affect the Phillips curve? Does t...
2. (1 point) Suppose the government increases its purchases. How does this change affect the Phillips curve? Does this cause a higher inflation? If so, what type of inflation is this, cost push or demand pull? 3. (1 point) Suppose the government raises the minimum wage. How does this change affect the Phillips curve? Does this cause a higher inflation? If so, what type of inflation is this?
How will shift right in supply affect equilibrium price, assuming demand remains constant? a. increase b....
How will shift right in supply affect equilibrium price, assuming demand remains constant? a. increase b. decrease c.will not affect it d. cannot be determined According to the law of demand, if the price of a good decreases, its Qd? a. decreases b. increases c. goes to zero d. stays constant According to the income effect, price changes equal changes in? a. money income b.real income c.demand d. utility on the demand curve a chance in price leads a. no...
Suppose spagetti and meatballs are complements. How will an increase in the price of spagetti affect...
Suppose spagetti and meatballs are complements. How will an increase in the price of spagetti affect the market for meatballs? A. Demand for spagetti will decrease causing the equilibrium price and quantity for meatballs to decrease. B. Supply for meatballs will decrease causing the equilibrium price and quantity for meatballs to decrease. C. Demand for meatballs will decrease causing the equilibrium price and quantity for meatballs to decrease. D. Demand for meatballs will increase causing the equilibrium price and quantity...
Suppose your firm operates in a perfectly competitive market and decides to double its output. How...
Suppose your firm operates in a perfectly competitive market and decides to double its output. How does this affect the firm's marginal profit? Please provide the answer& proper explanation in word format not in hand writing format A) Marginal revenue and marginal cost increase B) Marginal revenue increases but marginal cost remains the same C) Marginal cost may change but marginal revenue remains the same D) Marginal revenue and marginal cost decrease
The fiqure below shows the supply and demand for online music. Suppose that an economic downturn...
The fiqure below shows the supply and demand for online music. Suppose that an economic downturn forces families to take pay reductions and job cuts. Move the supply and/or demand curves to reflect the effect this would have on the market of online music. You can assume that online music is a normal good Also select the end result of equilibrium price and quantity. Equilibrium price O increases O decreases O remains constant O change is ambiguous Supply Equilibrium quantity...
If the price of white bread increases, how will it affect a consumer's demand for wheat...
If the price of white bread increases, how will it affect a consumer's demand for wheat bread? Describe both the substitution and income effect that the change in price would cause.
16. Suppose that the price of one product increases from $11 to $42. As a result,...
16. Suppose that the price of one product increases from $11 to $42. As a result, quantity demanded for another product changes from 260 to 180. Based on this information you can tell that these two products are (select one): a. complements b. normal C. substitutes d. inferior 17. Suppose that when the store increases the price of laundry detergent from $2.50 to $3.90, quantity demanded decreased from 210 to 130. What is the change in total revenue as a...
Suppose that aggregate demand increases such that the amount of real output demanded rises by $7 billion at each price level
Refer to the table below Suppose that aggregate demand increases such that the amount of real output demanded rises by $7 billion at each price levela. By what percentage will the price level increase?Will this inflation be demand-pull inflation or will it be
cost-push inflation?b. If potential real GDP (that is, full-employment GDP) is $510
billion, what will be the size of the positive GDP gap after the
change in aggregate demand?c. If government wants to use fiscal policy to counter...
Suppose your firm operates in a perfectly competitive market and decides to double its output. How...
Suppose your firm operates in a perfectly competitive market and decides to double its output. How does this affect the firm's marginal profit? Select one: a. Marginal revenue and marginal cost increase b. Marginal revenue increases but marginal cost remains the same C. Marginal cost may change but marginal revenue remains the same d. Marginal revenue and marginal cost decrease
2. (1 point) Suppose the government increases its purchases. How does this change affect the Phillips curve? Does this cause a higher inflation? If so, what type of inflation is this, cost push or demand pull? 3. (1 point) Suppose the government raises the minimum wage. How does this change affect the Phillips curve? Does this cause a higher inflation? If so, what type of inflation is this?
The fiqure below shows the supply and demand for online music. Suppose that an economic downturn forces families to take pay reductions and job cuts. Move the supply and/or demand curves to reflect the effect this would have on the market of online music. You can assume that online music is a normal good Also select the end result of equilibrium price and quantity. Equilibrium price O increases O decreases O remains constant O change is ambiguous Supply Equilibrium quantity...
16. Suppose that the price of one product increases from $11 to $42. As a result, quantity demanded for another product changes from 260 to 180. Based on this information you can tell that these two products are (select one): a. complements b. normal C. substitutes d. inferior 17. Suppose that when the store increases the price of laundry detergent from $2.50 to $3.90, quantity demanded decreased from 210 to 130. What is the change in total revenue as a...
Suppose your firm operates in a perfectly competitive market and decides to double its output. How does this affect the firm's marginal profit? Select one: a. Marginal revenue and marginal cost increase b. Marginal revenue increases but marginal cost remains the same C. Marginal cost may change but marginal revenue remains the same d. Marginal revenue and marginal cost decrease
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