Why is the supply curve upward sloping for a particular good? Higher prices of the good make the good less profitable Higher prices of the good incentivize firms to produce more of the good Higher prices of the good increase wages O Higher prices of the good increase the demand for the good

Q: iPhones are mostly made of aluminum. Assume that iPhones are normal goods and that their substitutes…

A: Equilibrium in the market occurs at the intersection of demand and supply curves

Q: QUESTION 14 Consider the market for PlayStation video games. Ceteris paribus, what effect will a…

A: Note: You have uploaded two questions at a time. Hence, we shall solve only the first one for you.…

Q: The law of supply: Multiple Choice is reflected ina downward-sloping supply curve shows that the…

A: When talking about market hypothesis, law of demand and law.of supply helps to explains the…

Q: The following graph shows the supply of a good. 380- Supply 180 80 QUANTITY (Units) For each of the…

A: Price elasticity of supply depicts how the seller responds with the change in price of the product…

Q: The law of demand states that the quantity supplied of a good is negatively related to price. O a.…

A: In economics, supply and demand refers to the relationship between the quantity of a commodity that…

Q: What does the price elasticity of supply measure?    A. how much the price of the good responds to…

A: Supply is the number of goods and services that the supplier is ready and willing to supply at each…

Q: Which of the following increases the supply of a good and shifts its supply curve rightward? an…

A: 1) a technological advance in how the good is produced  Technological advances increase resources'…

Q: Suppose a stock market crash lowers people's wealth. Assume also that laptop computers are a normal…

A: When there is a change in the price of a product, the quantity demanded/quantity supplied of that…

Q: Consider the market for lattes. What would happen to the equilibrium price and quantity of lattes if…

A: In a market, a change in demand or supply of a specfiic good influence it's market equilibrium as it…

Q: Suppose hamburger is an inferior good. If incomes increase, the __________ for hamburger would shift…

A: Inferior good is one that whose demand is negatively related to the income of an individual.

Q: Movie tickets and DVDs are substitutes. If the priceof DVDs increases, what happens in the market…

A: Substitute products are ones that can be utilized in lieu of each other with equal ease and comfort…

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: Take a linear demand curve like the one discussed in class, where the range of prices for which…

A: Demand and Supply  Demand refers to the quantities of a commodity that the consumers are ready to…

Q: Suppose the demand curve shifts to the right and the supply curve shifts to the Right by more than…

A: New demand curve: Downward sloping New supply curve: Upward sloping

Q: Suppose the supply and demand for a product are given by the numbers below for price, P, quantity…

A: The supply curve depicts the quantity supplied at each price level by the producer, keeping other…

Q: A change in demand cannot be caused by a change in: Select one: O a. tastes. b. population. O c. the…

A: Demand is the total value of goods and services demand keeping price constant.

Q: Continuing the previous example, by how much will the demanded quantity change if the price of…

A: Since you have posted multiple questions, we will answer the first question for you. If you want any…

Q: An increase in the quantity of automobiles supplied would be caused by which of the following? C An…

A: In an economy, a producer has to make changes in his supply decision according to the fluctuation in…

Q: You observe that the price of a good rises and the quantity decreases. These observations can be the…

A: When supply curve shift toward right:- When supply curve shifts from S1 to S2, equilibrium level…

Q: True of false ( explain the why) Percentage an increase in the price of good Y is 40% causes a…

A: In an economy, products are related to each other as the change in the price of one commodity will…

Q: If the price ofa resource required to produce a good increases, the supply curve will shift to the…

A: supply curve is depend on the many factor like technology improvement , input cost and many more so…

Q: What happens to the demand for a good if a Complement's price increases? a. The demand decreases and…

A: Demand curve for a good shifts when the price of its compliment good increases or decreases. When…

Q: Consider the market for pizza in a large city. Assuming that pizza is a normal good and the price…

A: Answer to the question is as follows :

Q: What will cause a change along the supply curve? The supplier's expectationsThe…

A: The supply curve shows the amount of goods and services that the producers are willing to supply at…

Q: Identify what happens to equilibrium price and quantity ineach of the following cases:a. Demand…

A: Since you have posted a question with multiple sub-parts, we will solve first four sub- parts for…

Q: When the price of a good is too high for consumers, they look for inelastic demand O substitutes O…

A: Demand is the total quantity of products and services for which the customers are willing to pay…

Q: Consider the demand for cars, given by %3D 000 – P, and the supply for cars, given by QS = 0.5P Find…

A: Equilibrium quantity is when there is no shortage or surplus of a product in the market. here we…

Q: Consider the market for lattes. What would happen to the equilibrium price and quantity of lattes if…

A: Demand curve is a downward sloping curve that represents inverse relationship between price and…

Q: Suppose there is an increase in consumers' incomes. In the market for automobiles(a normal good),…

A: A change in demand or supply (that is increase in supply or demand ) occurs when the demand or…

Q: What are independent demand items? What two basic ordering systems are used for theseitems? What are…

A: Independent demand refers to the demand which is not derived and depends on other products' demand.…

Q: Plot the supply curve from the supply schedule information provided. Price Quantity Supply (Qs) 1…

A: As per given instruction, diagram has been plotted & explained. For answering sub-parts d &…

Q: When economists say the quantity supplied of a product has increased, they mean the supply curve has…

A: Supply: It is the total amount of goods present for consumers.

Q: Construct the demand and supply curve using the given data. Use the back of this paper for your…

A: Given; Price Demand Supply P10 10 2 P20 8 4 P30 6 6 P40 4 8 P50 2 10 Equilibrium…

Q: The slope of the demand curve is unitless. O True O False

A: When we draw a demand curve, price is measured on the y-axis and quantity demanded is measured on…

Q: $10 $8 $6 $5 D 210 248 286 305 QD

A: Price of the soap is given on y axis and quantity of soap on x axis. When the price is $10,210…

Q: Assume that demand and supply are a simple line. If at the different prices, quantity of demand and…

A: Supply and demand is the core component of the economy , and the price of any goods and services…

Q: How can we best explain the decline in the price of a good or service? O there was an excess demand…

A: Equilibrium is attained in the market at the point where the demand and supply intersect each other.…

Q: Assume in a competitive market that price is initially below the equilibrium level. We can predict…

A: Equilibrium price is at the point where demand equals supply.

Q: Which of the following best explains why the supply of housing in Detroit is much less elastic than…

A: Availability is a basic economic notion that refers to the total amount of a given item or service…

Q: For a downward-sloping demand curve, a rightward shift of a supply curve: Oa. decreases equilibrium…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

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

A: Supply curve shows the positive relationship between price level and quantity supplied.

Q: A decrease in the price of corn syrup (an ingredient for soft drinks) and an increased concern about…

A: A decrease in the price of input increases supply which shifts the supply to the right which…

Q: Consider apples and oranges, which we'll assume are substitutes. If the price of oranges falls,…

A: When the two goods are substitutes, consumption of the goods yield almost the same level of…

Q: The price of a good will tend to rise when there is excess demand for the good. O the supply of the…

A: Prices can rise when demand exceeds supply. When consumption is static, the supply and pricing of…

Q: Which of the following events would lead to a shift of the supply curve from Old supply to New…

A: Supply: It refers to various quantities of a good offered for sale at various prices.

Q: you are given demand and supply schedule o burgers. where px is the price of a burger in rupees ,…

A: In a competitive market, the demand and supply of a good determine the equilibrium price and…

Q: Which of the following would not cause a decrease in demand for potato chips? a decrease in income…

A: Demand curve Shows an inverse relationship between price and quantity demanded. It slopes downward…

Q: What is likely to happen if the price of a good changes but everything else influencing suppliers'…

A: When there is change in price keeping all the factors constant then there will be movement along the…

Q: Figure 4-10 Price Supply A Supply B Supply C Оиantity 24.Refer to Figure 4-10. Which of the…

A: The supply curve is an upward sloping curve showing relation between the quantity supplied by a firm…