If the price of a good increases and the quantity demanded decreases, this is an example of: Question 2 options: A surplus in the market. An increase in supply. A shift in the demand curve. A movement along the demand curve.
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- Which of the following would not cause market demand for a normal good to decline? a. An increase in the price of a substitute b. An increase in the price of a complement c. A decline in consumer income d. Consumer expectations that the good will go on sale in the near future e. An announcement by the Surgeon General that the product contributes to premature deathWhich of the following increases the supply of a good? A) The price of a complement in production decreases. B) Productivity improves. C) Producers expect higher prices for the good in the future. D) Prices of inputs used to produce the good rise. E) The number of producers decreases.If we observe an increase in the price of a good and an increase in the amount of the good bought and sold, this could be explained by an increase in the supply of the good. an increase in the demand for the good. a decrease in the demand for the good. a decrease in the supply of the good.
- In the market for personal computers, which of the following would cause a decrease in supply? Multiple Choice The price of personal computers falls. There is a decrease in price of plastic, an input into the production of personal computers. Businesses are required to pay a higher tax on production of personal computers. There is a reduction in consumer preference for personal computers.If buyers expect the price of a good will be lower in the future, then? Group of answer choices the current demand for the good decreases the market will act to buy more goods now the current supply of the good increases because fewer people buy it. the current quantity demanded increases there is no impact on the demand for the goodThe task I am struggling with. Thank you.
- Draw a graph to analyze the market for agricultural products (food). Label your price and quantity axes properly. In your graph, draw a supply curve for agricultural products (food) that obeys the law of supply. Label (S). In the same graph, draw a demand curve for food that obeys the law of demand. Label (D). Identify the market equilibrium point in your graph and label (E). Also, label the equilibrium price (PE) and the Equilibrium quantity (QE): 1. Using supply/demand analysis, explain why food prices declined in the United States in the 1920s. Use your above graph to illustrate the change in the market equilibrium price. Clearly label the original and new equilibrium price and explain your graphical analysis in words.Draw a graph to analyze the market for agricultural products (food). Label your price and quantity axes properly. In your graph, draw a supply curve for agricultural products (food) that obeys the law of supply. Label (S). In the same graph, draw a demand curve for food that obeys the law of demand. Label (D). Identify the market equilibrium point in your graph and label (E). Also, label the equilibrium price (PE) and the Equilibrium quantity (QE): 1. In response to farmers' outcries about declining food prices, the federal government instituted a farm price support program. Use the graph above to illustrate why farm price supports created surpluses of many agricultural products. Explain your graph in words and clearly identify the surplus in your graph.Draw a graph to analyze the market for agricultural products (food). Label your price and quantity axes properly. In your graph, draw a supply curve for agricultural products (food) that obeys the law of supply. Label (S). In the same graph, draw a demand curve for food that obeys the law of demand. Label (D). Identify the market equilibrium point in your graph and label (E). Also, label the equilibrium price (PE) and the Equilibrium quantity (QE): 1. The federal government instituted acreage restriction programs in an attempt to eliminate the surpluses resulting from the price support program. Using the graph above, explain and illustrate how acreage restrictions, if effective might reduce or eliminate food surpluses. Label and explain clearly.
- Econ help needed.a) Explain the effect of the increase of Coffee prices on the equilibrium price and equilibrium quantity of the tea. b) A student claims to have spotted a UFO over the desert outside of Dubai. How will his claim affect the supply (not the quantity supplied) of binoculars in Dubai stores? c) If we have an inferior good, explain the impact of the decrease in consumer's income on the demand of that good. d) How would each of the following affect the market supply curve for corn? 1. A new and improved crop rotation technique is discovered. 2. The price of fertilizer increasesIn the market for ketchup, which of the following would cause an increase in supply? Multiple Choice Businesses receive a higher subsidy on production of ketchup. There is an increase in consumer preference for ketchup. The price of ketchup increases. There is an increase in the price of tomatoes, an input into the production of ketchup.
