SECTI NA Which of the following would be expected to decrease the demand for textbooks? An increase in the price of textbooks A decrease in college enrollment An increase in financial assistance to college students A decrease in the tuition per college class Oiva Noem! NAME PRINT LAST NAME, FIRST NAME 1. a. b. C. Ceteris paribus, an increase in the supply of tortillas causes the equilibrium price of 6. d. and the equilibrium quantity of tortillas to decrease; increase tortillas to C. increase; increase increase; decrease decrease; decrease d. a. b. Assuming tomato juice is a normal good, an increase in consumer income will cause an tomato juice and a(n) in the price of tomato juice. 7. increase in the demand for; decrease supply of; decrease C. demand for; increase supply of; increase a. d. b. Ceteris paribus, an increase in the demand for tortillas causes the equilibrium price of tortillas to and the equilibrium quantity of tortillas to decrease; increase decrease; decrease increase; increase increase; decrease a. C. b. d. 9. Assume teenagers in a town can either babysit or rake leaves to earn money on the weekends. Ceteris paribus, if the price paid for an hour of babysitting increases relative to the price paid for an hour of leaf raking, then: the supply of teens available to rake leaves is likely to decrease. the supply of teens available to baby sit is likely to decrease. the demand for baby sitting is likely to increase. the demand for leaf raking is likely to decrease. a. b. C. d. Technological improvements that reduce the cost of manufacturing smaller personal computers combined with an increase in the demand for smaller personal computers results in an increase in equilibrium: quantity, but no change in equilibrium price. price, but no change in equilibrium quantity. quantity, but the change in equilibrium price depends on the size of the shifts. price, but the change in equilibrium quantity depends on the size of the shifts. 10. a. b. C. d. 5. 8.

Microeconomics: Principles & Policy
14th Edition
ISBN:9781337794992
Author:William J. Baumol, Alan S. Blinder, John L. Solow
Publisher:William J. Baumol, Alan S. Blinder, John L. Solow
Chapter4: Supply And Demand: An Initial Look
Section: Chapter Questions
Problem 4TY: The following table summarizes information about the market for principles of economics textbooks:...
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Question 8

SECTI
NA
Which of the following would be expected to decrease the demand for textbooks?
An increase in the price of textbooks
A decrease in college enrollment
An increase in financial assistance to college students
A decrease in the tuition per college class
Oiva Noem!
NAME
PRINT LAST NAME, FIRST NAME
1.
a.
b.
C.
Ceteris paribus, an increase in the supply of tortillas causes the equilibrium price of
6.
d.
and the equilibrium quantity of tortillas to
decrease; increase
tortillas to
C.
increase; increase
increase; decrease
decrease; decrease
d.
a.
b.
Assuming tomato juice is a normal good, an increase in consumer income will cause an
tomato juice and a(n)
in the price of tomato juice.
7.
increase in the
demand for; decrease
supply of; decrease
C.
demand for; increase
supply of; increase
a.
d.
b.
Ceteris paribus, an increase in the demand for tortillas causes the equilibrium price of
tortillas to
and the equilibrium quantity of tortillas to
decrease; increase
decrease; decrease
increase; increase
increase; decrease
a.
C.
b.
d.
9.
Assume teenagers in a town can either babysit or rake leaves to earn money on the
weekends. Ceteris paribus, if the price paid for an hour of babysitting increases relative
to the price paid for an hour of leaf raking, then:
the supply of teens available to rake leaves is likely to decrease.
the supply of teens available to baby sit is likely to decrease.
the demand for baby sitting is likely to increase.
the demand for leaf raking is likely to decrease.
a.
b.
C.
d.
Technological improvements that reduce the cost of manufacturing smaller personal
computers combined with an increase in the demand for smaller personal computers
results in an increase in equilibrium:
quantity, but no change in equilibrium price.
price, but no change in equilibrium quantity.
quantity, but the change in equilibrium price depends on the size of the shifts.
price, but the change in equilibrium quantity depends on the size of the shifts.
10.
a.
b.
C.
d.
5.
8.
Transcribed Image Text:SECTI NA Which of the following would be expected to decrease the demand for textbooks? An increase in the price of textbooks A decrease in college enrollment An increase in financial assistance to college students A decrease in the tuition per college class Oiva Noem! NAME PRINT LAST NAME, FIRST NAME 1. a. b. C. Ceteris paribus, an increase in the supply of tortillas causes the equilibrium price of 6. d. and the equilibrium quantity of tortillas to decrease; increase tortillas to C. increase; increase increase; decrease decrease; decrease d. a. b. Assuming tomato juice is a normal good, an increase in consumer income will cause an tomato juice and a(n) in the price of tomato juice. 7. increase in the demand for; decrease supply of; decrease C. demand for; increase supply of; increase a. d. b. Ceteris paribus, an increase in the demand for tortillas causes the equilibrium price of tortillas to and the equilibrium quantity of tortillas to decrease; increase decrease; decrease increase; increase increase; decrease a. C. b. d. 9. Assume teenagers in a town can either babysit or rake leaves to earn money on the weekends. Ceteris paribus, if the price paid for an hour of babysitting increases relative to the price paid for an hour of leaf raking, then: the supply of teens available to rake leaves is likely to decrease. the supply of teens available to baby sit is likely to decrease. the demand for baby sitting is likely to increase. the demand for leaf raking is likely to decrease. a. b. C. d. Technological improvements that reduce the cost of manufacturing smaller personal computers combined with an increase in the demand for smaller personal computers results in an increase in equilibrium: quantity, but no change in equilibrium price. price, but no change in equilibrium quantity. quantity, but the change in equilibrium price depends on the size of the shifts. price, but the change in equilibrium quantity depends on the size of the shifts. 10. a. b. C. d. 5. 8.
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