A decrease in the demand for apples could be caused by ......... a) a rise in the price of apples b) a fall in the price of oranges if are substitues for apples
Q: 1.
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A decrease in the
a) a rise in the
b) a fall in the price of oranges if are substitues for apples
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- The price of butter rises, causing the demand for another good to fall.this implies that the good are substituesmicroeconomics Draw a demand curve for hotdogs. Label it D1. Draw a second demand curve for hotdogs that shows the effect of a rise in the price of a bottle of ketchup if the cross elasticity of demand for hotdogs with respect to the price of a bottle of ketchup is negative. Label it D2. X is Quantity (millions of hotdogs) Y is Price (dollars per hotdog) X increases from 2,4,6,8,10,12 Y increases from 1,2,3,4,Product T and Product Y are substitutes. If the price Y decreased a. Price of T increases b. Demand of T increases c. Demand of Y decreases d. Price of T decreases When the maker lemon D increased its price from P150.00 to P170.00 per bottle, the result is a. A decrease quantity demanded for lemon D b. A decrease in quantity supplied for lemon D c. An increase in quantity demanded for lemon D d. A constant quantity demanded for lemon D
- Suppose you have the demand (schedule or curve) for bottled water for 100 individuals. In order to represent (market) demand for all 100 consumers, you should add their individual ______________ at each _____________ . Group of answer choices prices, quantity demanded quantities demanded, price willingness to pay, price demand, quantity3-1 Competitive Markets True or False (Why): In a competitive market, buyers and sellers have significant market power. 3-2 Demand What is the difference between an individual demand curve and a market demand curve? If the price of zucchini increases, causing the demand for yellow squash to rise, what do we call the relationship between zucchini and yellow squash? If plane travel is a normal good and bus travel is an inferior good, what will happen to the demand curves for plane and bus travel if incomes increase? What would be the effects of each of the following on the demand for hamburger in Hilo, Hawaii? In each case, identify the responsible determinant of demand. a) The price of chicken falls. b) The price of hamburger buns doubles. c) Scientists find that eating hamburger prolongs life. d) The population of Hilo doubles. 3-3 Supply What is the reason that a supply curve is positively sloped? If the price of corn rose, a) What would be the effect on the supply of corn? b)…explain the inportance of demand analysis to business
- Imagine you've started a new pizza restaurant. It costs you about $6 to produce a pizza. Last week you sold 500 pizzas for $12 each. This week you raised your price and sold 375 pizzas for $14 each. What price should you be charging? (round to the nearest penny) Using Inverse elasticity pricingThe current price of cocktails increased. As a result: A. Demand for cocktails will increase B. Demand for cocktails will decrease C. None of the aboveDemand: Change in demand vs. a change in quantity demanded Distinction between a movement along a demand curve and a shift of the demand curve Change in price vs. a change in a non-price factor
- Which of the following will NOT shift the supply curve? Choose all that apply. A. The price of the product is decreased by $20. B. The government decides that the process of making the product is unsafe, so a new and more expensive process has to be adopted. C. A new competitor making the same product enters the marketplace. D. The price of the product is increased by $20. E. The workers at the plant producing the product receive a $5 per hour raise.For a refreshing beverage consumers can choose blueberry or strawberry smoothies, but do not drink them together. If the price of strawberry smoothies decreases, the ____ curve for blueberry smoothies shifts causing equilibrium blueberry smoothie price to _____ and equilibrium blueberry smoothie quantity to _____. Word Bank: Demand, increase, decrease, increase, decrease, Supply.Explain how a florist (a person who give flower services for events) may adjust her capacity to fluctuating demand. (300 words)