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- Consider the supply curve for wool sweaters. An increase in the price of wool will: decrease the supply of wool sweaters. increase the supply of wool sweaters. increase the quantity supplied of wool sweaters. decrease the demand for wool sweaters.The price of insulin increases by 10% and the quantity demanded of insulin remains unchanged. The demand for insulin isExplain all the reasons why decrease in the products price will lead to an increase in purchases
- The price of tennis shoes is shown to depend on the price of rubber. Which of the following statements is true? An increase in tennis shoes price causes an increase in rubber price. An increase in tennis shoes price does not cause an increase in rubber price. An increase in tennis shoes price potentially causes an increase in rubber price. An increase in rubber price potentially causes an increase in tennis shoes price. An increase in rubber price causes an increase in tennis shoes price. An increase in rubber price does not cause an increase in tennis shoes price.If the price of sodium-sulfur batteries decreases, the price of lithium batteries willWhen the supply of coffee decreases and the demand for coffee increases simultaneously, the price of coffee will: fall initially and then rise as demand increases to meet the increased supply. either rise or fall. fall. rise.
- If coffee and cream are complements, an increase in the price of coffee will cause the demand for cream to increase. the demand for cream to fall. the demand for coffee to fall.ASSUME THAT A DECREASE OF 10% AND THE PRICE OF CARS RESULT IN AN INCREASE OF 40% IN QUANTITY DEMANDED THEN THE PRICEELASTICITIES OF DEMAND IS ?Cinnamon Toast Crunch cereal and Trix cereal are considered substitute goods. Because of this, one would predict that, holding all else constant, if the price of Cinnamon Toast Crunch cereal increases, we would see
- If advances in PC production technology increased the supply of PCs sharply. The demand for PCs will increase, but not nearly as much as the supply did. As a result what will happen, will the price of a PC rise or fall and the quantity of PCs sold increase or decrease?Q13Explain all the reasons why a decrease in the price of a product would lead to an increase in purchases of the product.
