O the price of the good itself is not a factor. O the price of the good itself is a factor. O the price of the good and supply are the major factors. O none of these.
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Q19
![If a demand curve shifts, we know that
O the price of the good itself is not a factor.
the price of the good itself is a factor.
O the price of the good and supply are the major factors.
O none of these.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F966e1a32-8fd7-4a5d-8129-9d08cabe3728%2Fd63b4e80-b21f-4570-8e5e-c67c5201cfc6%2F4d362hu_processed.jpeg&w=3840&q=75)
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- If a 10 decrease in the price of one product that you buy causes an 8 increase in quantity demanded of that product, will another 10 decrease in the price cause another 3 increase (no more and no less) in quantity demanded?We know that a change in the price of a product causes a movement along the demand curve. Suppose consumers believe that prices will be rising in the future. How will that affect demand for the product in the present? Can you show this graphically?If butter and margarine are substitutes, an increase in the price of butter causes: Select one: O a. quantity demanded of margarine to fall and the demand curve for butter to shift toward the origin O b. quantity demanded of butter remains constant, but the demand for margarine decreases O c. the demand curve for both butter and margarine shift O d. decrease in quantity demanded for butter and an outward shift of the demand curve for margarine
- The law of demand states that if other factorsremain constant there isSelect one:a. An exponential relationship between priceof a good and the quantity demanded.O b. A negative relationship between the priceof a good and the quantity demanded.oc. A linear relationship between price of agood and the quantity demanded.O d. A positive relationshipbetween the price ofa good and the quantity demanded.Suppose we are analyzing the market for Sweet "Halwa" .What will happen to the equilibrium price and quantity of sweet if the price of sugar rises a little during Ramadan and Eid al-Fitr? Select one: O a. Price will increase and the Quantity will decrease Ob. Price will decrease and the Quantity will decrease Oc. None of the answers are correct O d. Price will increase and the Quantity will increase e. Price will stay exactly the same and Quantity will decrease O f. Quantity will stay exactly the same and the price will increaseIf two goods are substitutes, then O an increase in the price of one causes the demand for the other to fall. O there is an inverse relationship between changes in the price of one good and changes in the demand for the other. O if the price of one good falls, the demand for the other good falls also. O changes in the quantity demanded of one good will not affect the demand for the other.
- The price of a good will tend to fall when there is excess demand for the good. O there is excess supply of the good. O demand for the good increases. O the supply of the good decreases.How does a change in quantity supplied differ from a change in supply? O A change in quantity supplied shifts the supply curve; a change in supply is a movement along the curve. O A change in one of the ceteris paribus conditions affects quantity supplied, not supply. O A change in the price affects quantity supplied, not supply. O There is no difference.QUESTION 11 Assume that the price of cheese has decreased and the price of garlic bread (a substitute good) has decreased at the same time. How this will affect the market for pizzas? O a. Quantity of pizza would fall, and the effect on price would be ambiguous. O b. Price of pizza would rise, and the effect on quantity would be ambiguous. O. Quantity of pizza would rise, and the effect on price would be ambiguous. O d. Price of pizza would fall, and the effect on quantity would be ambiguous.
- QUESTION 12 Assume that the price of cheese has decreased and the price of garlic bread (a substitute good) has decreased at the same time. How this will affect the market for pizzas? O a. Quantity of pizza would fall, and the effect on price would be ambiguous. O b. Price of pizza would rise, and the effect on quantity would be ambiguous. O. Quantity of pizza would rise, and the effect on price would be ambiguous. O d. Price of pizza would fall, and the effect on quantity would be ambiguous. QUESTION 13 Samuel owns a laundromat business in Queens, New York. He recently purchased 2 new washing machines and 2 new dryers. This will cause O a. the demand for laundromat services to increase. O b. the supply of laundromat services to decrease. O c. the demand for laundromat services to decrease. O d. the supply of laundromat services to increase. QUESTION 16 A likely example of complementary goods for most people would be O a. golf club and baseball bat. O b. tea and coffee. O c. CPA…Which of the following will decrease the supply of goods? O a. New technology used in producing goods O b. Rise in the price of the good O c. Increase in the price of factors O d. None of theseWhich of the following best describes the law of demand? O When incomes increases, the demand for goods increases O When the price of a good decreases, the demand for the good increases When the demand for a good increases, consumers' willingness and ability to buy the good increases O When the price of a good decreases, the quantity demanded of the good decreases O When the price of a good increases, the quantity demanded of the good decreases
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