Exam 2: The Operation of a Market

Which of the following will increase the quantity of new construction supplied in the market?

If the demand for a product and the supply of a product both increase:

If products M and N are complementary, when the price of M increases:

The difference between an increase in demand and an increase in quantity demanded is:

Which of the following would not cause a shift in the supply curve?

If the market for hamburgers is in equilibrium and the price of pizza falls:

If consumers are willing to purchase a fixed quantity of a product regardless of the price, the Demand is:

The demand schedule shows how much of a particular product will be purchased:

One can expect the elasticity of demand for a hockey game to be ________________ because it is____________ good.

Which of the following characteristics does not lead to an elastic demand?

If the market price for houses is in equilibrium and the price of lumber increases:

If the demand for a product is inelastic, the coefficient of elasticity is:

The demand for a product will be more elastic:

If construction workers achieve a wage increase from their employers, then:

One can expect the elasticity of supply of blood to be:

The demand for a product tends to be less elastic:

If the market for automobiles is in equilibrium and the price of steel increases:

Which of the following will increase a typical student's demand in the quantity of pizza slices Purchased?

On a graph, a perfectly elastic supply curve is:

Assuming that the market for fossil fuels is in equilibrium, the introduction of a smart car would: