If Quantity Demanded 1, Quantity Demanded 2, and Quantity De

Custom Essays Economics If Quantity Demanded 1, Quantity Demanded 2, and Quantity De

Economics

If Quantity Demanded 1, Quantity Demanded 2, and Quantity De

If Quantity Demanded 1, Quantity Demanded 2, and Quantity Demanded 3 are market demand schedules,… Show more If Quantity Demanded 1, Quantity Demanded 2, and Quantity Demanded 3 are market demand schedules, then the change from Quantity Demanded 1 to Quantity Demanded 3 may have been due to: Price per DVD ($) Quantity Demanded 1 Quantity Demanded 2 Quantity Demanded 3 5 10 15 5 4 20 25 15 3 30 35 25 2 40 45 35 1 50 55 45 A)an increase in price. B)an increase in the number of sellers. C)a decrease in price. D)a decrease in the number of buyers. E)a decrease in the price of a substitute good. The change in the quantity demanded of any good is always caused by: A)a change in consumers’ preferences for that good. B)a change in the general income levels of the consumers who buy that good. C)an increase or decrease in the population. D)a change in the price of that good. E)a change in the price of substitute goods. Which of the following will cause an inward shift in the demand for steaks at a restaurant? A)A report by the American Medical Association states that the consumption of steak reduces the risk of cardiovascular disease B)A 50 percent reduction in the price of steaks C)A double-digit increase in the price of chicken D)A recession leading to a significant fall in the income levels of consumers E)The expectation that the price of steaks will double within two months Which of the following would lead to a rightward shift in the demand curve for golf balls? A)An increase in the price of golf clubs B)A decrease in the popularity of golf C)An increase in the number of golfers D)A decrease in the price of golf balls E)An increase in the golf club membership fee Which of the following will cause an increase in the quantity demanded of ice cream at an ice cream store? A)The onset of summer brings about an increase in the temperature. B)The price of frozen yogurt that is sold at the store is reduced by 5 percent. C)A new ice cream flavor is introduced at the store. D)The store introduces a limited period offer of 20 percent off on the price of ice cream. E)The income of the store’s consumers increases. Which of the following will have no impact on the demand for ice cream? A)A change in population size B)A change in the price of ice cream C)A change in seasons D)A change in consumer preferences E)A change in consumer incomes Other things remaining unchanged, which of the following is most likely to cause an increase in the demand for personal computers? A)A reduction in the price of personal computers. B)An increase in the supply of personal computers. C)An increase in the cost of computer printing ink. D)An increase in the number of computer manufacturers. E)A requirement by universities that all students buy personal computers. Other things remaining the same, if a large part of the population decided against having soda for health reasons, this would result in: A)an increase in the quantity of soda supplied. B)an increase in the quantity supplied of complements like fries and burgers. C)a decrease in the price of soda. D)a rightward shift of the demand curve for soda. E)a decrease in the quantity demanded of substitutes like mineral water. Assume that a hurricane in Brazil destroys half of the coffee crop. Considering that Brazil is a major coffee producing country, consumers expect the price of coffee to increase in the near future. How does this reflect on the demand for coffee? A)There is a movement upward along the demand curve for coffee. B)The demand curve for coffee shifts outward. C)The demand curve for coffee shifts inward. D)There is a movement downward along the demand curve for coffee. E)The demand for coffee declines. Margarine and butter can both be used as a spread on toast. This means that they are: A)independent goods. B)complementary goods. C)substitute goods. D)Giffen goods. E)inferior goods. PLEASE SHOW ME YOUR WORK FOR THE ANSWER THAT YOU SELECTED AND I WILL RATE YOU. SHOW ME THAT YOU’RE CONFIDENT OF YOUR ANSWER AND I WILL RATE YOU. I APPRECIATE ALL OF YOUR EXPERT ADVICE. • Show less

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