omingue Andrea #81SECTION# ECO /3/1-00l0NAMEPRINT LAST NAME, FIRST NAMEDEMAND AND SUPPLYWhich of the following would be expected to increase the supply of copy machines?A decrease in the number of firms manufacturing copy machinesA decrease in the price of copy machinesA decrease in the price of copy paperA decrease in the cost of manufacturing copy machines1.a.b.с.d.A decrease in the demand for oranges with no change in supply will result in a(n)in the equilibrium quantity.2.in the equilibrium price and a(n)increase; increaseincrease; decreasedecrease; increasedecrease; decreaseа.b.с.d.3.If the demand for RC Cola increases following a decrease in income, then:the law of demand does not apply to RC ColaRC Cola is anRC Cola is anа.b.example of a normal good.example of an inferior good.с.RC Cola and Pepsi are complementary goods.4.a decrease in the supply of cell phones isAccording to the model of demand and supply,most likely to have been caused by:an increase in the price of a cell phone.a decrease in the price of a cell phone.improvement in the technology used to produce cell phones.an increase in the cost of manufacturing cell phones.а.b.с.and.Which of the following would best explain an increase in the demand for jeans?A decrease in income, assuming jeans are normal goodsA decrease in the popularity of jeansAn increase in the number of schools that allow students to wearA decrease in the price of jeans5.а.0tb.с.jeansd.Ceteris paribus, a decrease in the supply of grape juice combined with an increase in thedemand for grape juice causes the equilibrium price of grape juice to:6.equilibrium quantity cannot be determined from thefall, but the effect oninformation given.fall with norise, but the effect oninformation given.rise with no change in the equilibrium quantity.а.change in the equilibrium quantity.b.equilibrium quantity cannot be determined from theс.d.69Chapter 4 Assignmento

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Asked Sep 26, 2019
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omingue Andrea #81
SECTION# ECO /3/1-00l0
NAME
PRINT LAST NAME, FIRST NAME
DEMAND AND SUPPLY
Which of the following would be expected to increase the supply of copy machines?
A decrease in the number of firms manufacturing copy machines
A decrease in the price of copy machines
A decrease in the price of copy paper
A decrease in the cost of manufacturing copy machines
1.
a.
b.
с.
d.
A decrease in the demand for oranges with no change in supply will result in a(n)
in the equilibrium quantity.
2.
in the equilibrium price and a(n)
increase; increase
increase; decrease
decrease; increase
decrease; decrease
а.
b.
с.
d.
3.
If the demand for RC Cola increases following a decrease in income, then:
the law of demand does not apply to RC Cola
RC Cola is an
RC Cola is an
а.
b.
example of a normal good.
example of an inferior good.
с.
RC Cola and Pepsi are complementary goods.
4.
a decrease in the supply of cell phones is
According to the model of demand and supply,
most likely to have been caused by:
an increase in the price of a cell phone.
a decrease in the price of a cell phone.
improvement in the technology used to produce cell phones.
an increase in the cost of manufacturing cell phones.
а.
b.
с.
an
d.
Which of the following would best explain an increase in the demand for jeans?
A decrease in income, assuming jeans are normal goods
A decrease in the popularity of jeans
An increase in the number of schools that allow students to wear
A decrease in the price of jeans
5.
а.
0t
b.
с.
jeans
d.
Ceteris paribus, a decrease in the supply of grape juice combined with an increase in the
demand for grape juice causes the equilibrium price of grape juice to:
6.
equilibrium quantity cannot be determined from the
fall, but the effect on
information given.
fall with no
rise, but the effect on
information given.
rise with no change in the equilibrium quantity.
а.
change in the equilibrium quantity.
b.
equilibrium quantity cannot be determined from the
с.
d.
69
Chapter 4 Assignmento
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omingue Andrea #81 SECTION# ECO /3/1-00l0 NAME PRINT LAST NAME, FIRST NAME DEMAND AND SUPPLY Which of the following would be expected to increase the supply of copy machines? A decrease in the number of firms manufacturing copy machines A decrease in the price of copy machines A decrease in the price of copy paper A decrease in the cost of manufacturing copy machines 1. a. b. с. d. A decrease in the demand for oranges with no change in supply will result in a(n) in the equilibrium quantity. 2. in the equilibrium price and a(n) increase; increase increase; decrease decrease; increase decrease; decrease а. b. с. d. 3. If the demand for RC Cola increases following a decrease in income, then: the law of demand does not apply to RC Cola RC Cola is an RC Cola is an а. b. example of a normal good. example of an inferior good. с. RC Cola and Pepsi are complementary goods. 4. a decrease in the supply of cell phones is According to the model of demand and supply, most likely to have been caused by: an increase in the price of a cell phone. a decrease in the price of a cell phone. improvement in the technology used to produce cell phones. an increase in the cost of manufacturing cell phones. а. b. с. an d. Which of the following would best explain an increase in the demand for jeans? A decrease in income, assuming jeans are normal goods A decrease in the popularity of jeans An increase in the number of schools that allow students to wear A decrease in the price of jeans 5. а. 0t b. с. jeans d. Ceteris paribus, a decrease in the supply of grape juice combined with an increase in the demand for grape juice causes the equilibrium price of grape juice to: 6. equilibrium quantity cannot be determined from the fall, but the effect on information given. fall with no rise, but the effect on information given. rise with no change in the equilibrium quantity. а. change in the equilibrium quantity. b. equilibrium quantity cannot be determined from the с. d. 69 Chapter 4 Assignmento

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Expert Answer

Step 1

Answer 1

It has been seen, how the factors affecting the price and the supply of the good, can have a high repercussion effect on the demand and quantity. If there is an increase in the supply of the copy machine, it would be due to the factors affecting it. If there is a decrease in the paper price or from a long term perspective, causing an expected increase in the supply of the copy machine, would be due to the decrease in the cost of the manufacturing copy machine. Therefore option D is the correct answer.

Step 2

Answer 2

A good is called as a normal good if the changes in the factors would cause an increase or decrease in the demand or supply of the good. As in the case, if the supply is A decrease in the demand of the oran...

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