FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 3: Supply and Demand

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 31

Multiple Choice

Review LaterAdd Note

Review Later

Use the following to answer questions: Figure: The Supply of Online Movie Rentals -(Figure: The Supply of Online Movie Rentals) Use Figure: The Supply of Online Movie Rentals.A decrease in the price of online movies sold by movie producers to rental outlets like Amazon and Apple would result in a change illustrated by the move from:

A) n to o in panel (a) .
B) p to q in panel (b) .
C) s to t in panel (c) .
D) u to v in panel (d) .

Correct Answer

verified

Show Answer

Question 32

Multiple Choice

Review LaterAdd Note

Review Later

In the market for canned pinto beans,_____ will increase if income increases and if pinto beans are a(n) _____ good.

A) demand;inferior
B) demand;normal
C) supply;inferior
D) supply;normal

Correct Answer

verified

Show Answer

Question 33

Multiple Choice

Review LaterAdd Note

You notice that the price of Blu-ray players falls and the quantity of Blu-ray players sold increases.You suspect that _____ Blu-ray players shifts to the _____.

The market price of airline flights increased recently.Some economists suggest that the price increased because jet fuel is much more expensive than before.As a result,they believe that,in the market for flights:

Milk is an important ingredient in the production of ice cream.If the price of milk increases,then one would expect,holding all other things constant:

Use the following to answer questions: Figure: Shifts in Demand and Supply IV -(Figure: Shifts in Demand and Supply IV) Use Figure: Shifts in Demand and Supply IV.The figure shows how supply and demand might shift in response to specific events.Suppose the price of lumber falls dramatically.Which panel BEST describes how this will affect the market for new houses?

Use the following to answer questions: -(Table: The Demand for Chocolate-Covered Peanuts) Use Table: The Demand for Chocolate-Covered Peanuts.Barbara demands 20 bags of chocolate-covered peanuts per month when the price of each bag is:

Suppose the input costs associated with manufacturing hair replacement treatments decrease over time.This would lead to a(n) :

Use the following to answer questions: Figure: The Demand and Supply of Wheat -(Figure: The Demand and Supply of Wheat) Use Figure: The Demand and Supply of Wheat.If there is an increase in demand of 2 000 bushels per period at each price,the equilibrium price and quantity will be _____ and _____ bushels per period,respectively.

An increase in the price of contact lenses will increase the supply of contact lenses.

Use the following to answer questions: Figure: Supply,Demand,and Equilibrium -(Figure: Supply,Demand,and Equilibrium)Use Figure: Supply,Demand,and Equilibrium.In the figure,there will be an excess supply of the good at a price of P₁.

Given a supply curve that is positively sloped and a demand curve for a normal good that is negatively sloped,an increase in income will result in:

Which statement BEST exemplifies the law of demand?

Researchers find a new strain of genetically modified seeds that result in a higher yield for corn producers.Holding all other things constant,this research will:

When the price of desks increases,the:

Use the following to answer questions: -(Table: Supply of Lemonade) Use Table: Supply of Lemonade.When the price of lemonade is $1 per cup,the quantity of lemonade supplied by Eli will be _____ cups per day.

Which factor would cause an INCREASE in the supply of a good?

Use the following to answer questions: Figure: The Blu-ray Disc Rental Market -(Figure: The Blu-ray Disc Rental Market) Use Figure: The Blu-ray Disc Rental Market.At a rental price of $6,there will be:

If the input costs associated with supplying gasoline increase in Prince Edward Island,the supply of gasoline in Prince Edward Island will decrease.

Use the following to answer questions: Figure: Shifts in Demand and Supply -(Figure: Shifts in Demand and Supply) Use Figure: Shifts in Demand and Supply.The figure shows how supply and demand might shift in response to specific events.Suppose the population increases.Which panel BEST describes how this will affect the market for apples?