Exam 3: Demand and Supply

Some sales managers are talking shop.Which of the following quotations refers to a movement along the demand curve?

Use the table below to answer the following questions. Table 3.1.1 -Refer to Table 3.1.1.Between 2016 and 2017,the price of coffee relative to the price of tea ________,while the price of coffee relative to the price of cola ________.

An increase in supply is shown by

If a factor of production can be used to produce either good A or good B,then A and B are

Use the table below to answer the following questions. Table 3.4.1 -Refer to Table 3.4.1.A surplus occurs if

Use the table below to answer the following questions. Table 3.5.1 The Market for Car-Seat Heaters -Refer to Table 3.5.1.The equilibrium price is $________ and the equilibrium quantity is ________ heaters per month.

Refer to the table below for the following question. Table 3.4.2 -Refer to Table 3.4.2.The table shows the demand and supply schedules for shampoo.Choose the correct statement.

A shortage will exist if

Which one of the following will shift the supply curve of good X leftward?

The substitution effect influences food purchases because when the price of a certain food rises,other things remaining the same,________.Consumers ________.

An increase in income

Since 1980,there has been a dramatic increase in the number of working mothers.Based on this information,the market for child care services has experienced

Some producers are chatting.Which one of the following quotations refers to a leftward shift of the supply curve?

Use the table below to answer the following questions. Table 3.5.3 Demand and supply schedules for designer sport t-shirts at CoolU -Refer to Table 3.5.3.Suppose that the price of a designer sport t-shirt is $6.The market has ________ leading to ________.

Use the table below to answer the following questions. Table 3.5.3 Demand and supply schedules for designer sport t-shirts at CoolU -Refer to Table 3.5.3.A new store opens up on the edge of campus,Great Wild North Sportswear,which has the capacity to do as much business as all the existing businesses.The quantity of t-shirts supplied doubles at each price.This would be represented as a

Use the table below to answer the following questions. Table 3.5.4 Quantities demanded and supplied in equilibrium before and after a drought strikes potato farms -Refer to Table 3.5.4.In Region 1,potatoes and hamburgers are

When a shortage occurs,there is a tendency for the

Use the figure below to answer the following questions. Figure 3.5.2 Original equilibrium at 1. -Refer to Figure 3.5.2,which represents the market for beer.If the price of pizza,a complement of beer rises,what is the new beer equilibrium,ceteris paribus?

The demand curve is P = 700 - 10Q_D.The supply curve is P = 400 + 5Q_S.At market equilibrium,the equilibrium quantity is ________ and the equilibrium price is ________.

Use the table below to answer the following questions. Table 3.5.3 Demand and supply schedules for designer sport t-shirts at CoolU -Refer to Table 3.5.3.A new store opens up on the edge of campus,Great Wild North Sportswear,which has the capacity to do as much business as all the existing businesses.The quantity of t-shirts supplied doubles at each price.In addition,in a television interview,Joe Cool shows off his designer sport t-shirt,setting off a new craze that doubles business at the local sportswear establishments.The quantity of t-shirts demanded doubles at each price.The new equilibrium price is $________ and the new equilibrium quantity is ________ t-shirts per month.