Question 16 What are two factors that are assumed to be held constant when a particular demand curve is graphed? Questio
Posted: Fri Jul 01, 2022 8:14 am
Question 16
What are two factors that are assumed to be held constant when aparticular demand curve is graphed?
Question 16 options:
a)
income and price
b)
population and the price of related goods
c)
preferences and technology
d)
the price of resources and expectations of future prices
Question 17
Which of the following is most likely to shift the demand forCoca-Cola?
Question 17 options:
a)
The price of Coca-Cola falls.
b)
The price of Pepsi-Cola falls.
c)
Technological change lowers the per unit cost of producingCoca-Cola.
d)
The price of syrup, an ingredient in Coca-Cola, falls.
e)
The wages paid to Coca-Cola factory workers falls.
Question 18
Suppose you manage a corner grocery store. If peanutbutter is an inferior good, what do you suppose will happen to theequilibrium price and equilibrium quantity of peanut butter asincomes fall during a recession?
Question 18 options:
a)
The equilibrium price will increase, and the equilibriumquantity will decrease.
b)
The equilibrium price will decrease, and the equilibriumquantity will increase.
c)
Both the equilibrium price and the equilibrium quantity willincrease.
d)
Both the equilibrium price and the equilibrium quantity willdecrease.
Question 19
Consider the market for cotton shirts. An increase in theprice of cotton will:
Question 19 options:
a)
increase the supply of cotton shirts.
b)
decrease the supply of cotton shirts.
c)
increase the quantity supplied of cotton shirts.
d)
decrease the quantity supplied of cotton shirts.
e)
decrease the demand for cotton shirts.
Question 20 (2 points)
If Goods A and B are complements, an increase in the price ofGood A will shift the demand curve for Good B to the right.
Question 20 options:
What are two factors that are assumed to be held constant when aparticular demand curve is graphed?
Question 16 options:
a)
income and price
b)
population and the price of related goods
c)
preferences and technology
d)
the price of resources and expectations of future prices
Question 17
Which of the following is most likely to shift the demand forCoca-Cola?
Question 17 options:
a)
The price of Coca-Cola falls.
b)
The price of Pepsi-Cola falls.
c)
Technological change lowers the per unit cost of producingCoca-Cola.
d)
The price of syrup, an ingredient in Coca-Cola, falls.
e)
The wages paid to Coca-Cola factory workers falls.
Question 18
Suppose you manage a corner grocery store. If peanutbutter is an inferior good, what do you suppose will happen to theequilibrium price and equilibrium quantity of peanut butter asincomes fall during a recession?
Question 18 options:
a)
The equilibrium price will increase, and the equilibriumquantity will decrease.
b)
The equilibrium price will decrease, and the equilibriumquantity will increase.
c)
Both the equilibrium price and the equilibrium quantity willincrease.
d)
Both the equilibrium price and the equilibrium quantity willdecrease.
Question 19
Consider the market for cotton shirts. An increase in theprice of cotton will:
Question 19 options:
a)
increase the supply of cotton shirts.
b)
decrease the supply of cotton shirts.
c)
increase the quantity supplied of cotton shirts.
d)
decrease the quantity supplied of cotton shirts.
e)
decrease the demand for cotton shirts.
Question 20 (2 points)
If Goods A and B are complements, an increase in the price ofGood A will shift the demand curve for Good B to the right.
Question 20 options: