Coffee and sugar are complements. If a poor sugar harvest leads to an increase in the price of sugar, there will also be?

Q: If less rainfall limited the supply of indian onion production , how will it changes the equilibrium…

A: Equilibrium is achieved in the market at the point of intersection of the market demand and market…

Q: You attend a movie and notice that there are hundreds of empty seats.what might you conclude about…

A: Equilibrium is attained in the market at the point where the demand and supply intersect each other.…

Q: Assuming that fish and chips are complementary products, if the price of fish rises, then the demand…

A: Complementary goods are the ones which have to be used together by people. In this question, fish…

Q: If the price of X decreases and this decreases the demand for Y, then

A: If the quantity demanded of a commodity decrease due to change in the price of another commodity is…

Q: If we have two substitute goods, then a decrease in the price of one will lead to increase in the…

A: In a market, two goods can be related to each other in terms of their demand, such that a change in…

Q: Equilibrium price ?

A: Given  P =-3Qd + 150P= 6Qs + 60

Q: TRUE OR FALSE? The scarcity of raw materials will result in the shift of the supply curve upward to…

A: The amount of the product that producers deliver to the market at varied prices throughout a…

Q: As the price of high-definition televisions has fallen over the last two years, more high-…

A: Here, it is given that there is a decrease in the price of high-definition television and at the…

Q: If two goods are complements, a decline in the price of one will cause an increase in the demand for…

A: The cross elasticity shows the response of the change in the price of one commodity on the demand of…

Q: If coffee and cream are complements, an increase in the price of coffee will cause the demand for…

A: Complementary goods are the goods that are consumed together. In this case cream and coffee are…

Q: Two goods are said to be substitutes if an increase in income results in a decrease in demand. True…

A: A normal good is one whose consumption increases when income increases. The demand curve for a…

Q: Other things equal, which of the following would NOT shift the supply curve for gasoline? Select…

A: Supply curve is a graphical representation of a supply schedule which shows various quantities of a…

Q: With respect to the demand for college enrollment, does  an increase in textbook prices.  cause a…

A: A movement along the demand curve takes place when the enrolment or tuition fees changes. Higher…

Q: Movie tickets and popcorn are complements because they are often enjoyed together. When the price of…

A: An object used in combination with another good or service is a complementary good. Usually, when…

Q: If consumers consider chicken and turkey to be substitutes, and, ceteris paribus, the price of…

A: Susbtitute Goods: The goods that are similar and can be interchangeably used. for eg. Pepsi and…

Q: “Decreasing the supply of crude oil raises the crude oil price. When the crude oil price goes up,…

A: In economics, the concept of demand and supply is widely used to determine the market outcome as any…

Q: If the price of hamburger decreases from $3 to $2, then the weekly market quantity supplied will

A: Quantity supplied is the total quantity of products that producers manufacture to sell in the market…

Q: An increase in the demand for notebooks raises the quantity of notebooks demanded but not the…

A: The market equilibrium is determined at the intersection of the market demand curve and the supply…

Q: Suppose goods A and B are substitutes. If the price of good A increases, will the demand for good B…

A: Substitute goods are those goods that can be consumed by an individual in place of each other by the…

Q: An increase in the price of the cheese used to produce pizza shifts the supply and demand curve of…

A: Cheese is used as a raw material in producing pizza. So, cheese is a factor of production in making…

Q: Resource X is necessary to the production of good Y. If the price of resource X rises, the…

A: Opposing economic variables gravitate towards their natural condition, resulting in economic…

Q: Which of the following will decrease the supply of goods?

A: Supplier of goods usually decreases due to increase in  cost of production.

Q: The price at which quantity demanded and quantity supplied of a good is equal is known as maximum…

A: In a free market the forces of demand and supply are set free to decide the market equilibrium and…

Q: If a good is inferior, a rise in its price will cause people to buy more of it, thus violating the…

A: When people's incomes rise, demand for lesser goods falls. As earnings and the economy improve,…

Q: If bread and butter are complements then what will happen if there is an increase in the price of…

A:

Q: Consider the market for gas-guzzling cars, if the price of gasoline falls. Change in demand?…

A: If the market of goods is perfectly competitive then the equilibrium price and quantity of a good…

Q: X is an inferior good. If there is an increase in incomes, then (quantity supplied,quantity…

A: Because X is an inferior good,if there is an increase in incomes then quantity demanded for good X…

Q: If the price of petroleum is rising, we can expect both the supply curve and demand curve to shift…

A: The price of petroleum is rising, as a result of this, due to the law of demand and law of supply,…

Q: If the price of beef rises significantly, what will happen in the market for fast-food hamburgers…

A: Beef is one the important input that is used for producing fast-food hamburgers; therefore, as the…

Q: Based on the figure below, an increase in the quantity of oil supplied but NOT in the supply of oil…

A: The given graph explains the change in the supply and quantity supplied in the oil market.

Q: . If the supply of pencils, a substitute for pens, decreases, what will happen to the: (a)…

A: The supply curve shows the association between the price of commodity and quantity of the commodity…

Q: When supply and demand meet at the equilibrium point, then prices in the market will

A: The supply and price of a commodity are directly related because when the price rises then the…

Q: When the price of one good affect the demand for another good, then the goods are likely to be…

A: The demand for a good gets affected by its price and other determinants such as price of related…

Q: When both supply and demand shift to the left, the equilibrium Group of answer choices price…

A: At a marketplace, there can be a situation when there is a simultaneous shift in demand and supply…

Q: Which of the following would increase the demand for beef? A.) lower pork prices B.) higher prices…

A: The factors which affect the demand of a product are: 1. Price of substitute goods 2. Price of…

Q: The prices of the Ralph Lauren Polo line of clothing are considerably higher than comparable quality…

A: Law of Demand shows the inverse relationship between price of a good and the quantity demanded of it…

Q: Consider the demand for airplane tickets. Which of the following does not cause the demand for…

A: Taking each option one by one A. Decrease in number of consumers due to a pandemic This will shift…

Q: If price of a Complement (commodity y) falls, what happens to demand of commodity x

A: The goods or the commodities are the products that satisfy human needs and provides utility to the…

Q: Assume that the price of product X rises by 13 percent and the quantity supplied of X rises by 15…

A: The markets are the place where the buyers of various goods and services tend to meet and interact…

Q: The Demand for a good always increase with the increase in the prices of other goods True/False

A: A good can be a substitute for the other good or it can be a complementary good for the other type…

Q: Suppose the price of gasoline is $1.60 per gallon. Is the quantity demanded higher or lower than at…

A: Equilibrium is the point of stability at which both the demand and supply forces are in balance.

Q: Choose an example of two related products. Change the price of one product and explain in detail…

A: When two goods can be used in place of each other easily, then the goods are perfect substitutes for…

Q: Which of the following might lead to an increase in the equilibrium price of jelly and a decrease in…

A: The equilibrium price is the price where quantity supplied and quantity demanded equal. This is the…

Q: If two goods are substitutes, a decline in the price of one will cause an increase in the demand for…

A: There are different types of goods based on their use, consumer preference & taste, and…