Q.1.9An 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.Q.1.10 Which of the following will result in a decrease in the equilibrium quantity of agood?(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. Q.1.6When an individual's income rises, ceteris paribus, his/her demand for a loaf ofbread, a normal good:(a)Rises.(b)Falls.(c)Remains unchanged.(d)Becomes more positive.Q.1.7If there is a strike in the milk production industry, then, ceteris paribus;(a)the demand for milk will increase.(b)the demand for milk will decrease.(c)the supply of milk will decrease.(d)the supply of milk will increase.Q.1.8An increase in demand:(a)indicates that more is demanded at higher prices.(b)indicates that more is demanded at lower prices.(c)is illustrated by a rightward shift of the demand curve.(d)is illustrated by a leftward shift of the demand curve.

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Q.1.9 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.

Q.1.9 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.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Q.1.9
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.
Q.1.10 Which of the following will result in a decrease in the equilibrium quantity of a
good?
(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.

Q.1.6
When an individual's income rises, ceteris paribus, his/her demand for a loaf of
bread, a normal good:
(a)
Rises.
(b)
Falls.
(c)
Remains unchanged.
(d)
Becomes more positive.
Q.1.7
If there is a strike in the milk production industry, then, ceteris paribus;
(a)
the demand for milk will increase.
(b)
the demand for milk will decrease.
(c)
the supply of milk will decrease.
(d)
the supply of milk will increase.
Q.1.8
An increase in demand:
(a)
indicates that more is demanded at higher prices.
(b)
indicates that more is demanded at lower prices.
(c)
is illustrated by a rightward shift of the demand curve.
(d)
is illustrated by a leftward shift of the demand curve.

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