Exam 4: Demand and Supply

Suppose the price of leather used to produce shoes increases. The higher price of leather ________ the supply of shoes and the supply curve of shoes ________.

The initial equilibrium price in the market for Web pages is $200 per page and 1000 Web pages are created in a month. Many new Web design firms now enter the market. As a result,

-Which figure above shows the effect if research is published claiming that eating pizza is healthy?

Which of the following shifts the demand curve for movies leftward?

If macaroni and cheese is an inferior good, then a decrease in income results in

Which of the following increases the supply of a good?

In a recession, consumers have less income to spend. As a result, if dining out is a normal good, then which of the following would happen to the demand curve for dining out?

When personal computers were first produced, the price was very high. As time passed, the price of personal computers fell because

If there is a surplus of tacos, then the

An increase in the number of pineapple growers results in

List the factors that change supply and shift the supply curve. Tell what happens to supply and the supply curve when there is an increase in the factor.

When there is a shortage of parking spaces at your college, the

Which of the following shifts the supply curve of popcorn leftward?

-In the figure above, a price of $35 per dozen roses results in

If a market begins in equilibrium and then the demand curve shifts leftward, a

If the demand for digital cameras increases when consumers' incomes rise, then digital cameras are

If the demand and supply both increase equally, then the equilibrium price ________ and the equilibrium quantity ________.

Market equilibrium occurs when

If a higher price for wheat decreases the quantity of corn being produced, which of the following describes what has occurred?

-In the figure above, if point "a" represents the original equilibrium and point "b" the new equilibrium, then