Exam 8: Understanding Markets and Industry Changes

Based on the answer above,the price for laptops _____________ and the quantity supplied for laptops ____________.

How does an increase in income affect the market of ipads (normal good)?

All these factors will shift good X's supply curve,except

Based on the answer above,the price for ipads _____________ and the quantity demanded for ipads ____________.

While you were an intern you bought 5 packages of hot dogs a month.After acquiring a full-time job with a considerable higher salary,you stopped purchasing hot dogs.For you,hot dogs are

Based on the answer above,the price for peanut butter_____________ and the quantity demanded for peanut butter ____________.

Suppose recent and widely circulated medical article reports new benefits of cycling exercise.Simultaneously,the price of the parts needed to make bikes falls.If the change in supply is greater than the change in demand,the price will _________ and the quantity will _________.

The law of supply states that,holding other factors constant,as price increases

Holding other factors constant,a decrease in the tax for producing cars causes

The wages for Nike workers increases.At the same time,we see the price for Adidas shoes increase.How does this affect the market for Nike shoes?

You lose your job and as a result your demand for steak falls.This implies that you consider steaks to be a

You love bananas.Due to a bad crop harvest,supply of bananas dropped in half.The price for bananas is expected to double in the near future.As a result,

A recent research signified the large health benefits of eating cooked tomatoes.Holding other things constant,this will cause

Based on the answer above,the price for bus rides _____________ and the quantity demanded for bus rides ____________.

If the government imposes a price floor at $10 (i.e.the price must be $10 or higher)in the above market,how many goods will be traded?

Changes in prices of a good causes

Suppose the demand for pens increases and the supply for pens decreases.What effect will it have on the quantity?

How does an increase in income affect the market of bus rides (inferior good)?

Movie theatres decided to increase the price of movie tickets.Holding other factors constant,what happens to the demand for popcorn in the movie theatres?

As the income for bus consumers increased,the wages of bus drivers increased simultaneously.How does this affect the market for bus rides (inferior good)?