93.Suppose the number of buyers in a market increases and a technological advancement occursalso.What would we expect to happen in the market? Show
Get answer to your question and much more 94. Suppose the incomes of buyers in a market for a particular normal good decrease and thereis also a reduction in input prices. What would we expect to occur in this market? Get answer to your question and much more 95. What would happen to the equilibrium price and quantity of coffee if the wages of coffee-bean pickers fell and the price of tea fell?a.Price would fall, and the effect on quantity would be ambiguous.b.Price would rise, and the effect on quantity would be ambiguous.c.Quantity would fall, and the effect on price would be ambiguous.d.Quantity would rise, and the effect on price would be ambiguous.ANS: A 96. Which of the following events would cause both the equilibrium price and equilibriumquantity of number two grade potatoes to increase if number two grade potatoes are aninferior good? Get answer to your question and much more Skip to main content
Which of the following would increase in response to a decrease in the price of ironing boards? a. the quantity of irons demanded at each possible price of irons b. the equilibrium quantity of irons c. the equilibrium price of irons d. All of the above are correct.Which of the following would increase in response to a decrease in the price of ironing boards?
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Which of the following events must cause equilibrium quantity to fall quizlet?Which of the following events must cause equilibrium price to fall? Suppose that demand for a good increases and, at the same time, supply of the good decreases. What would happen in the market for the good? Equilibrium price would increase, but the impact on equilibrium quantity would be ambiguous.
What would happen to the equilibrium price and quantity of lattes quizlet?What would happen to the equilibrium price and quantity of lattés if the cost of producing steamed milk, which is used to make lattés, rises? raise price, which decreases quantity demanded and increases quantity supplied until the shortage is eliminated.
When the demand and supply of grapes both increase at the same time then the?According to the law of demand, other things equal, when the price of a good or service falls, demand increases. When the demand and supply of grapes both increase at the same time, then the: quantity of grapes bought and sold will rise.
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Which of the following would not increase in response to a decrease in the price of ironing boards?
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