when there is an increase in the cost of producing a good or service this will cause the supply curve to shift up and to the left  true or false

Q: During the week before Memorial Day, a supermarket chain begins running a nev set of sales. The…

A: Complementary goods have a negative cross price elasticity which means that when the P of one good…

Q: A supply curve which is partaken to the horizontal axis suggests that

A: The markets are the place where the buyers, or the consumers interact, and meet with the sellers.…

Q: The supply curve will shift to the right if there is: a change in consumer preferences for the good…

A: A supply curve is a graphical representation that describes the relationship between the cost of…

Q: Demand function is given as :- 20Q - 15 = P The equilibrium quantity is given as 6 units.…

A: # In a market equilibrium occurs at the point where the market demand curve and the market supply…

Q: Answer true or false, an increase in supply is represented by a movement up the supply curve.

A: Supply is the total value of goods and services which is available for the customers at particular…

Q: Which of the following would cause the supply curve to shift to the right? An increase in the price…

A: The law of states that as the price of the product rises then quantity falls and as the price of a…

Q: A price ceiling above $25 per box in this market will Because it takes many years before newly…

A: According to the Law of Demand and Supply more quantities of a commodity is demanded and less is…

Q: What is the direction of a perfectly inelastic supply curve? vertical upward sloping to the right…

A: Inelastic goods are those goods which are often described as necessities. A shift in price will not…

Q: Since the supply curve intersects the horizontal axis, all of the points along the supply curve…

A: Inelastic Supply : The supply curve is tend to be inelastic when the percentage change in price is…

Q: Consider the market for a good shown in the graph below. If the price of the good is set at $2,…

A: Equilibrium is achieved where demand intersects the supply

Q: Assume there is a decrease in the price of a complement.  This will cause the _______ curve to shift…

A: When the price of the complement decreases, then it will cause the demand to increase and it leads…

Q: If price is above the equilibrium, there will be excess supply of the product. Select one: a. True…

A: Equilibrium price is determined where there is no excess supply or demand.

Q: What effect will each of the following have on the supply of auto tires? An increase in the price of…

A:

Q: When the price of good X increases, a. the supply curve for good X will shift to the right. b. the…

A: Supply curve depicts the positive relationship between quantity supplied and price of good, keeping…

Q: Consumers expect that the price per kilograms of wheat will rise next week, as a result…

A: Expectations of future prices is one of the factors that affects demand.

Q: The situation of zero excess demand and zero excess supply is known as

A: Excess demand simply happens when the market demand > Market supply and the excess supply happens…

Q: What components will cause a Shift in the Supply curve? What happens if a market is out of…

A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only first…

Q: The situation of zero excess demand and zero excess supply is known as ______________

A: In a market, excess demand refers to the situation when demand for a good or service is more that is…

Q: Which expression refers to the inverse (negative) relationship between price and quantity demanded…

A: There is the inverse relation the price and quantity demanded. As the price increases, the quantity…

Q: Determinants of supply What causes the supply curve to shift left or right? This could include,…

A: Determinants of supply refer to those factors that are responsible for the change in supply curves…

Q: ete stone. D. An increase in the price of cement.

A: A leftward shift in the supply curve indicates that suppliers are in turn producing less of any…

Q: If a supply curve is perfectly horizontal, what is the value of the price elasticity of supply?

A: The price elasticity of demand is the degree of responsiveness from the consumer towards a change in…

Q: Which one of the following will result in a decrease in the quantity of precast concrete walls…

A: The law of supply states that "other things being equal, there exists a positive relationship…

Q: The supply curve together with_ determines equilibrium price and quantity

A: At a marketplace, an equilibrium is determined at a level where market efficiency can be maximized.

Q: Your instructor gives you two equations: 1) Q = 40 + 2P and 2) Q = 100 – 4P. What types of curves…

A: If the price of a given item increases, the amount demanded decreases, all else being equal; the…

Q: The supply curve together with. determines equilibrium price and quantity

A: When talking about market equilibrium, it is expressed in terms of equilibrium price and quantity.

Q: Fill in the blanks to make the following statements correct. a. Ceteris paribus, the price of a…

A: Ceteris paribus is a term used in economics to state that all the other variables are kept constant…

Q: An increase in supply: A. indicates that more is supplied at higher prices. B. indicates that more…

A: Factors affecting supply are:-  1) Number of firms 2) Technology 3) Change in cost of input 4)…

Q: Hi! I'm fairly confident that the answer here is none of these, but I want to be as thorough as…

A: The demand curve is the curve that would describe the relation between the price of a commodity and…

Q: price elasticity

A: When the price of a good changes the response in the good’s supply is call the price elasticity of…

Q: The price per kilo of sugar is expected to increase next week. What will happen to the demand for…

A: Demand and supply forces in the economy interact to give the market equilibrium quantity and price.…

Q: The equilibrium price means that the supply and demand for a product are in balance.True or False

A: Meaning of Microeconomics: The term macroeconomics refers to that situation under which the…

Q: Which of the following would shift the supply curve for a commodity to the right? An increase in the…

A: Answer for Q#1 A market supply curve shows various combinations of price and quantity supplied.…

Q: If the demand curve moves to the right as the supply curve also moves to the right( at the same…

A: Equilibrium is occurring at the point where the demand curve intersects with supply curve.

Q: A supply curve slopes upward because quantity supplied is higher when price is higher.  True  False

A: Supply curve, in economics, graphic representation of the link between product price and quantity of…

Q: Which of the following would cause the supply curve to shift from Supply A from Supply C in the…

A: The upward-sloping supply curve is a curve that shows the positive relationship between price and…

Q: When an economist states the supply of a product has decreased, he or she has concluded that a) A…

A: In an economy, a producer is one who has the responsibility to maintain the availability of output…

Q: The supply Curve will shift _________ if the price of the raw material rises

A: The prices of raw material has a direct impact on the cost of production of the firm and thus it…

Q: Sales of bananas have dropped from 100,000 pounds to 75,000 pounds per day because a freeze resulted…

A: In a market, various factors are responsible for influencing the supply and demand of a product that…

Q: Which would cause a new equilibrium price to be lower and at a lower quantity sold? A. The demand…

A: Definitions: Demand is defined as how much is the consumer willing to pay for consuming particular…

Q: Which of the following would NOT shift the supply curve of laptops to the right: * A.an advancement…

A: The number of laptops produced by the firms in the market to sell the laptops is called the supply…

Q: An increase in the market price of men's haircuts from $12 per haircut to $22 per haircut, initially…

A: Price elasticity of supply is a measurement of the supply of goods and services with the change of…

Q: Distinguish between a shift in and a movement along the supply curve.

A: A supply curve shows the relation between price charged and quantity supplied. When there is a shift…

Q: QUESTION 11 If the demand equation is D(x) = 109 - 3.9x and the supply equation is S(x) = 6.3x + 35,…

A: D(x) = 109 - 3.9x S(x) = 6.3x + 35

Q: The fresh fruit market and frozen dinner market are currently in equilibrium. Fresh fruit is a…

A: A normal good is also known as a necessary good. These are the goods that have higher demand when…