Exam 4: Demand and Supply

Suppose that the number of companies selling computer software decreases.How does this change affect the supply of computer software and the supply curve of computer software?

The "law of demand" refers to the fact that,other things remaining the same,when the price of a good rises,

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

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

If the costs of producing pizza increase,which will occur?

An increase in the number of producers of bird seed ________ the supply of bird seed and shifts the supply curve of bird seed ________.

If good weather conditions result in a larger than normal crop of peaches,then the

-The graph illustrates the supply of sweaters.Which of the following events will increase the quantity supplied of sweaters?

When there is a surplus of snowboards,the

-In the above figure,an increase in productivity

-The above figure shows the market for laptops.Which of the following causes a movement from B to A?

The market supply curve is the ________ of the ________.

-The above figure shows the market for pizza.The market is in equilibrium when the cheese used to produce pizza falls in price.What point represents the most likely new price and quantity?

Mulch is shredded wood and is a by-product in the production of lumber.Because these two goods are produced together,they are

Which of the following results in a movement upward along the demand curve for movies?

-The above figure shows the market for game day t-shirts.If the price of t-shirts is $8,then

-Using the data in the table above,if the price of a stapler is $5,then there is ________ of staplers and the quantity of staplers demanded ________ the quantity of staplers supplied.

Which of the following indicates that the law of supply applies to makers of soda?

Milk can be used to produce cheese or butter.If the price of a pound of butter rises,what happens to the supply of cheese?

The "law of demand" indicates that if the University of Maine increases tuition,all other things remaining the same,