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QUESTION 35 Suppose that the price of a substitute good falls and there are new regulations that make production more expensive. This would lead to a. A decrease in quantity and an ambiguous effect on price Ob. An increase in price and an ambiguous effect on quantity c. An increase in quantity and an ambiguous effect on price d. An decrease in price and an ambiguous effect on quantity

QUESTION 35 Suppose that the price of a substitute good falls and there are new regulations that make production more expensive. This would lead to a. A decrease in quantity and an ambiguous effect on price Ob. An increase in price and an ambiguous effect on quantity c. An increase in quantity and an ambiguous effect on price d. An decrease in price and an ambiguous effect on quantity

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter3: Demand And Supply
Section: Chapter Questions
Problem 4SCQ: Many changes are affecting the market for oil. Predict how each of the following events will affect...
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C. An increase in income d. An increase in the price of sugar (which is used to make lemonade) QUESTION 35 Suppose that the price of a substitute good falls and there are new regulations that make production more expensive. This would lead to a. A decrease in quantity and an ambiguous effect on price Ob. An increase in price and an ambiguous effect on quantity c. An increase in quantity and an ambiguous effect on price d. An decrease in price and an ambiguous effect on quantity QUESTION 36 A rightward shift in the demand curve for tennis balls could be caused by a. a fall in the price of tennis rackets. b. a fall in income, assuming tennis balls are a normal good. C. a fall in the price of tennis balls. d. a rise in the price of tennis lessons. QUESTION 37 An early frost in the vineyards of Napa Valley would cause a(n) a. decrease in the demand for wine, decreasing price. b. increase in the demand for wine, increasing price. c. decrease in the supply of wine, increasing price. d. increase in the supply of wine, decreasing price.
Transcribed Image Text:C. An increase in income d. An increase in the price of sugar (which is used to make lemonade) QUESTION 35 Suppose that the price of a substitute good falls and there are new regulations that make production more expensive. This would lead to a. A decrease in quantity and an ambiguous effect on price Ob. An increase in price and an ambiguous effect on quantity c. An increase in quantity and an ambiguous effect on price d. An decrease in price and an ambiguous effect on quantity QUESTION 36 A rightward shift in the demand curve for tennis balls could be caused by a. a fall in the price of tennis rackets. b. a fall in income, assuming tennis balls are a normal good. C. a fall in the price of tennis balls. d. a rise in the price of tennis lessons. QUESTION 37 An early frost in the vineyards of Napa Valley would cause a(n) a. decrease in the demand for wine, decreasing price. b. increase in the demand for wine, increasing price. c. decrease in the supply of wine, increasing price. d. increase in the supply of wine, decreasing price.
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