Exam 3: Demand and Supply

Which of the following leads to a movement along the demand curve for spinach but does not shift the demand curve for spinach?

For "an increase in the quantity demanded" but not "an increase in demand" to occur, there must be a

-The above table gives the demand and supply schedules for Blu-ray discs. Suppose that the price of a Blu-ray disc player increases, resulting in the demand for Blu-ray discs decreasing by 8,000 units at all prices. What are the new equilibrium quantity and equilibrium price of Blu-ray discs?

-In the above figure, if D₂ is the original demand curve and consumers come to expect that the price of the good will rise in the future, which price and quantity might result?

-In the figure above, an increase in the supply of oil would result in a movement from

-Using the data in the above table, at the price of $80 a phone, a

An increase in technology will shift the good's supply curve rightward.

Which of the following leads to a movement along the supply curve for shredded wheat but does not shift the supply curve for shredded wheat?

When the demand curve shifts rightward and the supply curve shifts leftward, then the equilibrium price ________ and the equilibrium quantity ________.

A supply curve is also a maximum-supply-price curve.

The law of demand concludes that a rise in the price of a golf ball ________ the quantity demanded and ________.

The "law of demand" states that, other thing remaining the same, the higher

List the factors that change supply and shift the supply curve. Tell what happens to supply and the supply curve when there is an increase in the factor.

-In the above figure, a change in quantity demanded with unchanged demand is represented by a movement from

Consumers can use either natural gas or heating oil to warm their houses. Suppose the price of natural gas increases. Use a demand and supply diagram to show the impact of the higher price of natural gas on the market for home heating oil.

The law of demand states that, other things remaining the same, the higher the price of a good, the

-In the figure above, an increase in the quantity of oil supplied but NOT an increase in the supply of oil is shown by a movement from

-In the above figure, a price of $15 per dozen for roses would result in

The supply curve slopes upward when graphed against ________, because of ________.

Which of the following raises the price of a used car and increases the equilibrium quantity sold?