Which of the following would be expected to decrease the demand for tex a. An increase in the price of textbooks A decrease in college enrollment An increase in financial assistance to college students b. C. d. A decrease in the tuition per college class Ceteris paribus, an increase in the supply of tortillas causes the equilibrium price of and the equilibrium quantity of tortillas to. 6. decrease; increase decrease; decrease a. increase; increase increase; decrease b. C. d. 7. Assuming tomato juice is a normal good, an increase in consumer income will cause an in the price of tomato juice. increase in the tomato juice and a(n) C. d. demand for; decrease demand for; increase supply of; increase a. supply of; decrease b. 8. Ceteris paribus, an increase in the demand for tortillas causes the equilibrium price of and the equilibrium quantity of tortillas to decrease; increase tortillas to C. increase; increase increase; decrease a. decrease; decrease d. b. Assume teenagers in a town can either babysit or rake leaves to earn money on the weekends. Ceteris paribus, if the price paid for an hour of babysitting increases relative to the price paid for an hour of leaf raking, then: 9. the supply of teens available to rake leaves is likely to decrease. the supply of teens available to baby sit is likely to decrease. the demand for baby sitting is likely to increase. the demand for leaf raking is likely to decrease. a. b. c. d. Technological improvements that reduce the cost of manufacturing smaller personal computers combined with an increase in the demand for smaller personal computers results in an increase in equilibrium: 10. quantity, but no change in equilibrium price. price, but no change in equilibrium quantity. quantity, but the change in equilibrium price depends on the size of the shifts price, but the change in equilibrium quantity depends on the size of the shifis a. b. C. d. Chapter 4 Assignments 68
Which of the following would be expected to decrease the demand for tex a. An increase in the price of textbooks A decrease in college enrollment An increase in financial assistance to college students b. C. d. A decrease in the tuition per college class Ceteris paribus, an increase in the supply of tortillas causes the equilibrium price of and the equilibrium quantity of tortillas to. 6. decrease; increase decrease; decrease a. increase; increase increase; decrease b. C. d. 7. Assuming tomato juice is a normal good, an increase in consumer income will cause an in the price of tomato juice. increase in the tomato juice and a(n) C. d. demand for; decrease demand for; increase supply of; increase a. supply of; decrease b. 8. Ceteris paribus, an increase in the demand for tortillas causes the equilibrium price of and the equilibrium quantity of tortillas to decrease; increase tortillas to C. increase; increase increase; decrease a. decrease; decrease d. b. Assume teenagers in a town can either babysit or rake leaves to earn money on the weekends. Ceteris paribus, if the price paid for an hour of babysitting increases relative to the price paid for an hour of leaf raking, then: 9. the supply of teens available to rake leaves is likely to decrease. the supply of teens available to baby sit is likely to decrease. the demand for baby sitting is likely to increase. the demand for leaf raking is likely to decrease. a. b. c. d. Technological improvements that reduce the cost of manufacturing smaller personal computers combined with an increase in the demand for smaller personal computers results in an increase in equilibrium: 10. quantity, but no change in equilibrium price. price, but no change in equilibrium quantity. quantity, but the change in equilibrium price depends on the size of the shifts price, but the change in equilibrium quantity depends on the size of the shifis a. b. C. d. Chapter 4 Assignments 68
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question 6
Transcribed Image Text:Which of the following would be expected to decrease the demand for tex
a.
An increase in the price of textbooks
A decrease in college enrollment
An increase in financial assistance to college students
b.
C.
d.
A decrease in the tuition per college class
Ceteris paribus, an increase in the supply of tortillas causes the equilibrium price of
and the equilibrium quantity of tortillas to.
6.
decrease; increase
decrease; decrease
a.
increase; increase
increase; decrease
b.
C.
d.
7.
Assuming tomato juice is a normal good, an increase in consumer income will cause an
in the price of tomato juice.
increase in the
tomato juice and a(n)
C.
d.
demand for; decrease
demand for; increase
supply of; increase
a.
supply of; decrease
b.
8.
Ceteris paribus, an increase in the demand for tortillas causes the equilibrium price of
and the equilibrium quantity of tortillas to
decrease; increase
tortillas to
C.
increase; increase
increase; decrease
a.
decrease; decrease
d.
b.
Assume teenagers in a town can either babysit or rake leaves to earn money on the
weekends. Ceteris paribus, if the price paid for an hour of babysitting increases relative
to the price paid for an hour of leaf raking, then:
9.
the supply of teens available to rake leaves is likely to decrease.
the supply of teens available to baby sit is likely to decrease.
the demand for baby sitting is likely to increase.
the demand for leaf raking is likely to decrease.
a.
b.
c.
d.
Technological improvements that reduce the cost of manufacturing smaller personal
computers combined with an increase in the demand for smaller personal computers
results in an increase in equilibrium:
10.
quantity, but no change in equilibrium price.
price, but no change in equilibrium quantity.
quantity, but the change in equilibrium price depends on the size of the shifts
price, but the change in equilibrium quantity depends on the size of the shifis
a.
b.
C.
d.
Chapter 4 Assignments
68
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