When will natural market forces place upward pressure on prices and quantity supplied? a) When the demand is insufficient b) When the quality is insufficient c) When there is excess demand d) When the market needs another product
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When will natural market forces place upward pressure on prices and quantity supplied?
a) When the
b) When the quality is insufficient
c) When there is excess demand
d) When the market needs another product
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- Which of the following would not cause market demand for a normal good to decline? a. An increase in the price of a substitute b. An increase in the price of a complement c. A decline in consumer income d. Consumer expectations that the good will go on sale in the near future e. An announcement by the Surgeon General that the product contributes to premature deathWhen supply and demand meet at the equilibrium point, then prices in the market willA change in quantity supplied involves a new supply curve resulting from a shift in the supply curve either inward or outward, leading to a new equilibrium point between demand and supply.
- The price at which quantity demanded and quantity supplied of a good is equal is known as maximum price. True / FalseThe task I am struggling with: Determine the supply and demand function and the equilibrium point.Graph the results.Demand. If a given product is priced at $7 per unit, there is a demand for 4 units;if a given product is priced at $6 per unit, there is a demand for 8 units.Supply. If a given product is priced at $9 per unit, suppliers are willing to produce4 units; if a given product is priced at $23 per unit, suppliers are willing toproduce 12 units. Thank you very much.An increase in both the equilibrium price and quantity can be the result of A) None of these answers is correct. B) an increase in demand. C) an increase in supply. D) a decrease in demand.
- The computer market in recent years has seen many more computers sell at much lower prices. What determinant(s) for demand or supply are/is most likely to explain this outcome?When an economist states the supply of a product has decreased, he or she has concluded that a) A smaller quantity will be produced at every price b) The price is too high for equilibrium c)a greater quanity will produced at every price d) the price is too low equilibrium. e) demand was too high for producers to make a profit.When firms in a market expect the price of their products to rise, the supply curve of their goods , causing the equilibrium price to decreases; rise decreases; fall increases; fall increases; rise increases; rise and the equilibrium quantity to fall
- Assume the demand for sugar decreases and the supply of sugar decreases. Which of the following outcomes is certain to occur? The equilibrium price of sugar will fall. The equilibrium quantity of sugar will fall. The equilibrium quantity of sugar will rise. The equilibrium price of sugar will rise.How would each event affect the market for COVID-19 vaccines? Does the event cause a change in demand or a change in the quantity demanded? Is the change positive or negative? Or does the event cause a change in supply or a change in the quantity supplied? Is the change positive or negative? Explain the mechanism for the change and what happens to equilibrium price and quantity. a) The vaccine is approved for children under the age of 12. b) The U.S. government provides a subsidy that allows the price of the vaccine to be $0 for everyone. c) Several vaccines pass Phase 3 (large-scale efficacy tests) and are approved by the FDA for full use. d) A truck carrying the Pfizer vaccine has a malfunction and the refrigeration requirements aren’t met, so all the doses go bad. e) School districts and health care facilities add a requirement for getting the vaccine for all employees.