Business, 10.08.2019 00:20, darwinpinedahn1

If the demand for a product increases, then we would expect equilibrium price a. and equilibrium quantity both to decrease. b. to decrease and equilibrium quantity to increase. c. to increase and equilibrium quantity to decrease. d. and equilibrium quantity both to increase.

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Business, 02.07.2019 12:40, 4300252063

1. if consumers bought the exact same amount of a product when it's price rises or falls, the price elasticity of demand is said to be select one: a. perfectly inelastic b. elastic c. relatively inelastic d. perfectly elastic 2. if there were an increase in demand for a product and no change in supply, you would expect: select one: a. an increase in equilbrium price and a decrease in equilibrium quantity b. a decrease in equilibrium price and an increase in equilibrium quantity c. a decrease in equilibrium price and equilibrium quantity d. an increase in the equilbrium price and equilbrium quantity 3. a surplus of a product in a market indicates that the quantity demanded select one: a. is less than the quantity supplied b. is greater than the quantity supplied c. is equal to the quantity supplied d. price is below the equilibrium price 4. which of the following would cause an increase in supply of a particular product? select one: a. the popularity of the product increases b. the cost of producing the product increases c. the government grants a subsidy to the producer d. the product's price increases 5. which of the following would cause an increase in supply of a particular product? select one: a. the popularity of the product increases b. the cost of producing the product increases c. the government grants a subsidy to the producer d. the product's price increases 6. a supply curve slopes upwards because: i. higher prices mean greater profits for a producer ii. eventually costs rise as production increases iii. consumers find goods more valuable at higher prices select one: a. both i and ii b. i, ii, and iii c. i only d. ii only 7. the law of demand states that: select one: a. consumers buy more of a product when the price is higher b. the quantity demanded of a product will decrease when the product's price increases c. the demand curve for a product will shift to the left when demand increases d. there is a direct relationship between a product's price and the quantity demanded 8. if there were a decrease in the cost or producing a good, you would expect the market equilbrium price select one: a. to decrease and equilbrium quantity to increase b. and equilibrium quantity to increase c. and equlibrium quantity to decrease d. to increase and the equilibrium quantity to decrease 9. the demand for chicken increases as a result of higher beef prices. this indicates that select one: a. chicken and beef are substitutes b. chicken and beef are complements c. chicken and beef are normal goods d. chicken and beef are inferior goods 10. the demand curve for a product would shift to the left if: select one: a. the number of sellers in the market decreased b. the number of buyers in the market increased c. the popularity of the product decreased d. the price of the product decreased

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Business, 23.07.2019 01:30, 10033636

Over time, a continual decrease in autoworkers' wages leads to an increase in the supply of trucks. during this same time, drivers start to prefer compact cars over trucks, leading to a decrease in the demand for trucks. which of the statements most accurately describes what happens to the equilibrium price and quantity of trucks? the equilibrium price will increase and the equilibrium quantity will increase. the equilibrium price will decrease and the equilibrium quantity will decrease. the equilibrium price will decrease and it is unclear how the equilibrium quantity will change. the equilibrium quantity will decrease and it is unclear how the equilibrium price will change.

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Business, 01.08.2019 10:30, moore7165

If the demand and supply curves increase (shift outward) by identical proportions then a. equilibrium price and quantity do not change. b. equilibrium price and quantity both increase. c. equilibrium price stays the same and quantity rises. d. equilibrium price increases but quantity falls. what if the increase in demand were larger than the increase in supply? a. the equilibrium price and quantity increase. b. the equilibrium price and quantity decrease. c. the equilibrium price increases and the quantity decreases. d. the equilibrium price decreases and the quantity increases. what if the increase in demand were smaller than the increase in supply? a. equilibrium price and quantity both rise. b. equilibrium price rises and quantity falls. c. equilibrium price falls and quantity rises. d. equlibrium price and quantity both fall.

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Business, 24.10.2019 18:43, mcqueen10travis

Both supply and demand decrease will result in group of answer choices a. both equilibrium price and quantity fall c. a decrease in the equilibrium price and decrease in equilibrium quantity d. an indetermination in equilibrium price and a decrease in equilibrium quantity b. an increase in the equilibrium price and decrease in equilibrium quantity e. an increase in equilibrium price and an indetermination in equilibrium quantity

Answers: 1

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