0-Principles of Economics 1 | S1 21/22Time leWhen might the supply curve for microwave ovens shift?Select one:O a. Only if the price of steel increases.O b. when a determinant of the supply of microwave ovens other than the price of microwave ovens changes.O c. only when production technology changes.O d. only when the number of sellers of microwave ovens changes.O e.when any determinant of the supply of microwavevens changes.Next F

The equilibrium price and quantity of a good sold in the market are determined by the forces of…

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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…
An increase in the price of wheat will lead to Select one: O a. an upward movement along the demand curve for wheat. O b. a leftward shift in the demand curve for wheat. Oc arightward shift in the supply curve for wheat. O d. an increase in the quantity of wheat consumed.
Which of the following will cause the demand curve to shift? O A. newer technology and improved productivity a change in consumer income B. C. a change in the cost of raw materials O D. more firms in the market
Several advertisements announce that the price of hand sanitizer will be decreasing next month. At the same time, the price of rubbing alcohol, an ingredient used to make hand sanitizer has decreased. Given these two effects, what can we say about the current equilibrium price and quantity of hand sanitizer? → a. Equilibrium price will increase, equilibrium quantity will decrease. O b. Equilibrium quantity will decrease; the effect on price is ambiguous. O c. Equilibrium quantity will increase; the effect on price is ambiguous. O d. Equilibrium price will decrease; the effect on quantity is ambiguous.
The opportunity cost of a hotdog in terms of hamburgers is O the ratio of the price of a hotdog to the price of a hamburger. O the price of a hot dog minus the price of a hamburger. O the ratio of the slope of the demand curve for hot dogs to the slope of the demand curve for hamburgers. the ratio of the slope of the supply curve for hot dogs to the slope of the supply curve for hamburgers.
In 1966, the Catholic Church eliminated the centuries-old requirement that members abstain from eating meat on Fridays. Catholics customarily ate fish on Friday. Given this, economics would predict that o a. the price of fish would increase and the price of meat would fall. o b. the price of both meat and fish would fall. o C. the price of both meat and fish would rise. o d. the price of fish would decrease and the price of meat would rise.
In the market for some good, demand decreases and supply decreases. What prediction would you make for this market? Select one: O a. Price rises. O b. Price falls. O c. Quantity falls. O d. Quantity rises.
What is the Supply Schedule and the Supply curve, and how are they related? Why does the Supply curve slope up wards? What are the other factors that affect market supply and how increase or decrease in other factors affect the supply curve of a product? Does the change in producer’s technology lead to a movement of the supply curve or a shift of the supply curve? Also does a change in Price of a commodity shift the supply curve or lead to the movement of the supply curve/ kindly explain your answer with graphs and examples
The price of good A will rise if: O a. The demand for good A decreases. O b. The price of a complement for good A decreases. O c. The price of a substitute for good A decreases. Od. The price of a complement for good A increases.
When might the supply curve for microwave ovens shift? Select one: a. only when production technology changes. O b. only when the number of sellers of microwave ovens changes. Oc. when a determinant of the supply of microwave ovens other than the price of microwave ovens changes. O d. when any determinant of the supply of microwave ovens changes. O e. Only if the price of steel increases.
les of Macroeconomics - Spring21 Which of the following statements is CORRECT? Select one: O a. A change in the quantity demanded means a shift in the demand curve. O b. Achange in demand means a movement along the demand curve. O c. Achange in demand and change in quantity demanded means the same thing. O d. Achange in demand means a shift in the demand curve while change in the quantity demanded means a movement along the demand curve. NEXT PAGE
Which of the following will not cause the supply curve to shift? Select one: O a. Change in producers' expectations. O b. Change in technology. c. Change in wages. O d. Change in consumer tastes. Check Nex 4 Solutions Jump to... HW Unit 4 DUE March ed in as Ashli-Amari Bent (Log out) -2021/SPRING/DAY MacBook Pro

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