1. what is a supply? 2. what is a quatity supplied? 3. what is the difference between supply and quantity supplied? 4. change in supply versus change in quatity supplied.
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1. what is a supply?
2. what is a quatity supplied?
3. what is the difference between supply and quantity supplied?
4. change in supply versus change in quatity supplied.
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- Assume that good Z is an inferior good for a consumer. If the consumer's income increases, thenA. the supply of good Z will increase.B. the supply of good Z will decrease.C. the demand of good Z will increase.D. the demand of good Z will decrease.help me tutors (choose answer correctly) not neccessarily to explan. 1. Evaluate the movement from point A to point B on the graph shows. a. decrease in demand. b. decrease in quantity demanded.c. an increase in quantity demanded.d. an increase in demand. 2. According to the graph, what are equilibrium price and quantity. a. $7, 20 b. $5, 40c. $7, 60 d. $3, 60If price will change, holding other factors constant, the following will happen in the market for a consumerSingle choice. a. There will be a change in quantity demanded. b. There will be a change in quantity supplied. c. There will be a change in demand. d. There will be a change in supply.
- 1. Draw a graph and a schedule to explain the demand curve and its relation with price. 2. Draw a graph and a schedule to explain the supply curve and its relation with price.In Law of Supply, the quantity supplied of a product decreases when_________ a. Price of the good increases b. Income decreases c. Quantity supplied decreases d. None e. Price of the good decreases Clear my choiceWe can find the market supply for phones by: a. multiplying the number of sellers by the number of phones each is willing to sell. b. adding the individual supply curves for phones.c. adding all of the prices at which sellers are willing to sell phones. d. adding the number of phones buyers want to buy at each price level.
- Which of the following shifts the demand curve for rice? A. a decrease in the price of a pound of wheat a substitute in consumption for rice B. an increase in the price of the fuel used to transport rice to supermarkets C. great weather that produces a bumper rice crop this year D. disastrous weather that destroys about half of this year's rice crop1. Draw a labeled graph showing the supply and demand curves. Mark P₁ and Q₁ on your graph. Then show an increase in supply (as opposed to an increase in the quantity supplied.) Mark P2 and Q2 on your graph.An increase in demand means that: a. when the price falls, consumers are willing to purchase greater quantities of the good. b. consumers cause the price drop by buying greater quantities of the good. C. consumers are willing to purchase greater quantities of the good at any given price. d. when the price rises, consumers are willing to purchase greater quantities of the good.
- 2. In a supply and demand diagram, draw the shift of the demand curve for hamburgers in your hometown due to the following events. In each case, show the effect on equilibrium price and quantity. a. The price of tacos increases. b. All hamburger sellers raise the price of their french fries. c. Income falls in town. Assume that hamburgers are a normal good for most people. d. Income falls in town. Assume that hamburgers are an inferior good for most people. e. Hot dog stands cut the price of hot dogs.10. What factors can change demand? What factors can change quantity demanded? 11. When a person goes to the grocery store to buy food, there is no auctioneer calling out prices for bread su other items. Therefore, supply and demand cannot be operative. Do you agree or disagree? Explain vour e, milk, 12. The price of a given-quality personal computer is lower today than it was five years ago. Is this necessarily the resuke of a lower demand for computers? Explain your answer. 13. What is the effect on equilibrium price and quantity of the following? a. A decrease in demand that is greater than the increase in supply b. An increase in supply c. A decrease in supply that is greater than the increase in demand d. A decrease in demand 14. At equilibrium quantity, what is the relationship between the maximum buying price and the minimum selling price? 15. If the price paid is Php40 and the consumers' surplus is Php4, then what is the maximum buying price? If the minimum selling price is…32. An increase in the price of a good will: Group of answer choices A. increase demand B. increase quantity demanded C. decrease demand D. decrease quantity demanded