Exam 4: Demand and Supply

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  -The above figure shows the market for pizza.The market is in equilibrium when some of the pizza firms go out of business.What point represents the most likely new price and quantity? -The above figure shows the market for pizza.The market is in equilibrium when some of the pizza firms go out of business.What point represents the most likely new price and quantity?

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Suppose the equilibrium price of movie tickets is $10.If the supply curve for movies shifts __________,the equilibrium price will ______.

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When there is a surplus of snowboards,the

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What are substitutes in production?

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The market demand curve for mangos is

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Which of the following helps explain why the law of supply exists?

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The demand for oranges increases while the supply decreases.The equilibrium price of oranges ________,and the equilibrium quantity ________.

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The number of people looking to buy ceiling fan buyers increases,so there is an increase in the

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If the number of companies producing memory chips increases,then the

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  -In the figure above,what is the equilibrium price and quantity? -In the figure above,what is the equilibrium price and quantity?

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If the automobile workers' union successfully negotiates a wage increase for its members,how does the wage hike affect the supply of automobiles?

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Which of the following is correct? i.A surplus puts downward pressure on the price of a good. ii.A shortage puts upward pressure on the price of a good. iii.There is no surplus or shortage at equilibrium.

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When does a surplus occur?

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Which of the following increases the supply of a good and shifts its supply curve rightward?

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  -The above figures show the market for HD televisions.If people's incomes increase and HD televisions are a normal good,which figure shows the effect of this change? -The above figures show the market for HD televisions.If people's incomes increase and HD televisions are a normal good,which figure shows the effect of this change?

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  -Scooters are a normal good and buyers' incomes decrease.Which of the figures above best illustrates how this change affects the demand curve for scooters? -Scooters are a normal good and buyers' incomes decrease.Which of the figures above best illustrates how this change affects the demand curve for scooters?

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A demand schedule

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The number of corn producers increases,so the supply of corn ________ and the supply curve of corn ________.

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Suppose that the demand curve for desktop computers shifts rightward and at the same time the supply curve shifts leftward.Which of the following could have caused these shifts?

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The quantity supplied of a good is

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