1.An increase in the cost of flour used to bake bread is most likely to (a) decrease the demand for bread. (b) increase the supply of bread. (c) decrease the supply of bread. (d) increase the demand for bread.
1.An increase in the cost of flour used to bake bread is most likely to (a) decrease the demand for bread. (b) increase the supply of bread. (c) decrease the supply of bread. (d) increase the demand for bread.
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section: Chapter Questions
Problem 4CQQ
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Question
1.An increase in the cost of flour used to bake bread is most likely to
-
(a) decrease the
demand for bread. -
(b) increase the supply of bread.
-
(c) decrease the supply of bread.
-
(d) increase the demand for bread.
2. Which of the following will result in a decrease in the
-
(a) An increase in both demand and supply.
-
(b) A decrease in both demand and supply
-
(c) An increase in demand together with a decrease in supply.
4. (d) A decrease in demand together with an increase in supply
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