Suppose the equilibrium price for soft drinks is $1.00. If the current price in the soft drink market is $1.25 each, A. there will be a surplus of soft drinks. B. there will be a shortage of soft drinks. C. the supply curve of soft drinks will shift leftward. O D. the demand curve for soft drinks will shift leftward

MATLAB: An Introduction with Applications
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D. has no effect on either its demand or its supply.
QUESTION 5
Suppose the equilibrium price for soft drinks is $1.00. If the current price in the soft drink market is $1.25 each,
O A. there willl be a surplus of soft drinks.
B. there will be a shortage of soft drinks.
O C. the supply curve of soft drinks will shift leftward.
D. the demand curve for soft drinks will shift leftward
QUESTION 6
If the price of product X falls and this change increases the demand for product Y, then
O A.X and Y are complements
B. X and Yare substitutes.
OC.Xis an inferior good.
OD. Y is an inferior good.
Transcribed Image Text:D. has no effect on either its demand or its supply. QUESTION 5 Suppose the equilibrium price for soft drinks is $1.00. If the current price in the soft drink market is $1.25 each, O A. there willl be a surplus of soft drinks. B. there will be a shortage of soft drinks. O C. the supply curve of soft drinks will shift leftward. D. the demand curve for soft drinks will shift leftward QUESTION 6 If the price of product X falls and this change increases the demand for product Y, then O A.X and Y are complements B. X and Yare substitutes. OC.Xis an inferior good. OD. Y is an inferior good.
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