Exam 3: Demand and Supply

Which of the following does NOT shift the demand curve for broccoli?

When graphing a demand curve for corn, we are showing the relationship between the quantity demanded of corn and the

You notice that the price and quantity of wheat both decrease. This observation can be the result of the

An increase in the cost of producing video tape shifts the supply curve of video tape ________ and shifts the demand curve for video tape ________.

-The above table gives the demand and supply schedules for Blu-ray discs. Based on the table, the equilibrium quantity and price of Blu-ray discs is

Ham and eggs are complements. If the price of ham rises, the demand for eggs will

-The above figures show the market for hamburger meat. Which figure shows the effect of a decrease in the price of a substitute like hot dogs?

The quantity of CDs that firms plan to sell this month depends on all of the following except the

In the market for bicycles, explain what happens to the supply and demand curves when there is an increase in the price of steel used to make bikes.

Which of the following statements is TRUE?

-Consider the demand curves for soft drinks shown in the figure above. A movement from point a to point b represents

In 2011, the price of peanuts was rising, which lead peanut butter sellers and peanut butter buyers to expect the price of peanut butter would rise in the future. Suppose the effect on the sellers was larger than the effect on the buyers. Consequently, in the current market for peanut butter there is a ________ in the price of peanut butter and ________ in the quantity of peanut butter.

An increase in the expected future price of a good

-The table shows the demand and supply schedules for jeans.

If the money price of wheat increases and no other prices change, the

-In the above figure, a change in quantity supplied with unchanged supply is represented by a movement from

-In mid-2008 Delta increased the price of a New York to LA ticket by 10 percent. As a result of this price hike, there was a ________ shift in the demand curve for a ticket on Continental because the price of a ________ had risen.

Which of the following always raises the equilibrium price?

If workers who make DVDs get a pay raise, the equilibrium price of a DVD ________ and the equilibrium quantity of DVDs ________.

Suppose the price of a football is $20.00 and the price of a basketball is $10.00. The ________ of a football is ________.