omingue Andrea #81 SECTION# ECO /3/1-00l0 NAME PRINT LAST NAME, FIRST NAME DEMAND AND SUPPLY Which of the following would be expected to increase the supply of copy machines? A decrease in the number of firms manufacturing copy machines A decrease in the price of copy machines A decrease in the price of copy paper A decrease in the cost of manufacturing copy machines 1. a. b. с. d. A decrease in the demand for oranges with no change in supply will result in a(n) in the equilibrium quantity. 2. in the equilibrium price and a(n) increase; increase increase; decrease decrease; increase decrease; decrease а. b. с. d. 3. If the demand for RC Cola increases following a decrease in income, then: the law of demand does not apply to RC Cola RC Cola is an RC Cola is an а. b. example of a normal good. example of an inferior good. с. RC Cola and Pepsi are complementary goods. 4. a decrease in the supply of cell phones is According to the model of demand and supply, most likely to have been caused by: an increase in the price of a cell phone. a decrease in the price of a cell phone. improvement in the technology used to produce cell phones. an increase in the cost of manufacturing cell phones. а. b. с. an d. Which of the following would best explain an increase in the demand for jeans? A decrease in income, assuming jeans are normal goods A decrease in the popularity of jeans An increase in the number of schools that allow students to wear A decrease in the price of jeans 5. а. 0t b. с. jeans d. Ceteris paribus, a decrease in the supply of grape juice combined with an increase in the demand for grape juice causes the equilibrium price of grape juice to: 6. equilibrium quantity cannot be determined from the fall, but the effect on information given. fall with no rise, but the effect on information given. rise with no change in the equilibrium quantity. а. change in the equilibrium quantity. b. equilibrium quantity cannot be determined from the с. d. 69 Chapter 4 Assignmento
omingue Andrea #81 SECTION# ECO /3/1-00l0 NAME PRINT LAST NAME, FIRST NAME DEMAND AND SUPPLY Which of the following would be expected to increase the supply of copy machines? A decrease in the number of firms manufacturing copy machines A decrease in the price of copy machines A decrease in the price of copy paper A decrease in the cost of manufacturing copy machines 1. a. b. с. d. A decrease in the demand for oranges with no change in supply will result in a(n) in the equilibrium quantity. 2. in the equilibrium price and a(n) increase; increase increase; decrease decrease; increase decrease; decrease а. b. с. d. 3. If the demand for RC Cola increases following a decrease in income, then: the law of demand does not apply to RC Cola RC Cola is an RC Cola is an а. b. example of a normal good. example of an inferior good. с. RC Cola and Pepsi are complementary goods. 4. a decrease in the supply of cell phones is According to the model of demand and supply, most likely to have been caused by: an increase in the price of a cell phone. a decrease in the price of a cell phone. improvement in the technology used to produce cell phones. an increase in the cost of manufacturing cell phones. а. b. с. an d. Which of the following would best explain an increase in the demand for jeans? A decrease in income, assuming jeans are normal goods A decrease in the popularity of jeans An increase in the number of schools that allow students to wear A decrease in the price of jeans 5. а. 0t b. с. jeans d. Ceteris paribus, a decrease in the supply of grape juice combined with an increase in the demand for grape juice causes the equilibrium price of grape juice to: 6. equilibrium quantity cannot be determined from the fall, but the effect on information given. fall with no rise, but the effect on information given. rise with no change in the equilibrium quantity. а. change in the equilibrium quantity. b. equilibrium quantity cannot be determined from the с. d. 69 Chapter 4 Assignmento
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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I need help with 1, 2, and 3.
Transcribed Image Text:omingue Andrea #81
SECTION# ECO /3/1-00l0
NAME
PRINT LAST NAME, FIRST NAME
DEMAND AND SUPPLY
Which of the following would be expected to increase the supply of copy machines?
A decrease in the number of firms manufacturing copy machines
A decrease in the price of copy machines
A decrease in the price of copy paper
A decrease in the cost of manufacturing copy machines
1.
a.
b.
с.
d.
A decrease in the demand for oranges with no change in supply will result in a(n)
in the equilibrium quantity.
2.
in the equilibrium price and a(n)
increase; increase
increase; decrease
decrease; increase
decrease; decrease
а.
b.
с.
d.
3.
If the demand for RC Cola increases following a decrease in income, then:
the law of demand does not apply to RC Cola
RC Cola is an
RC Cola is an
а.
b.
example of a normal good.
example of an inferior good.
с.
RC Cola and Pepsi are complementary goods.
4.
a decrease in the supply of cell phones is
According to the model of demand and supply,
most likely to have been caused by:
an increase in the price of a cell phone.
a decrease in the price of a cell phone.
improvement in the technology used to produce cell phones.
an increase in the cost of manufacturing cell phones.
а.
b.
с.
an
d.
Which of the following would best explain an increase in the demand for jeans?
A decrease in income, assuming jeans are normal goods
A decrease in the popularity of jeans
An increase in the number of schools that allow students to wear
A decrease in the price of jeans
5.
а.
0t
b.
с.
jeans
d.
Ceteris paribus, a decrease in the supply of grape juice combined with an increase in the
demand for grape juice causes the equilibrium price of grape juice to:
6.
equilibrium quantity cannot be determined from the
fall, but the effect on
information given.
fall with no
rise, but the effect on
information given.
rise with no change in the equilibrium quantity.
а.
change in the equilibrium quantity.
b.
equilibrium quantity cannot be determined from the
с.
d.
69
Chapter 4 Assignmento
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