The popularity of digital cameras has enticed large discount stores to offer digital photo printing services. How does this affect the digital photo printing market
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The supply curve has shifted to the right
0%
The supply curve for digital photo printing services shifts to the right
0%
The firm has an incentive to decrease supply now and increase supply in the future
0%
The supply of peaches has decreased
Q.2.
If a firm expects that the price of its product will be higher in the future than it is today then
0%
Quantity demanded equals quantity supplied, the market price will then equal the equilibrium price
0%
The firm has an incentive to decrease supply now and increase supply in the future
0%
An increase in demand is a rightward shift of the curve while increase in quantity demanded is a movement along the curve
0%
The price of the good changes
Q.3.
A change in all of the following variables will change the market demand for the product except the
0%
Normal good
0%
Inferior good
0%
Market demand
0%
Price
Q.4.
Hurricanes ruined orange crops resulting in a shortage of oranges. If they tried to sell oranges at the pre hurricane cost we would expect to see
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A decrease in the quantity of MP3 players demanded
0%
Decrease in quantity demanded
0%
A shortage of oranges
0%
Decrease in the price of cattle
Q.5.
Elvira decreased her consumption of bananas when the price of peanut butter increased. For Elvira, peanut butter and bananas are
0%
Decrease in quantity demanded
0%
Increase demand for the Galaxy tab
0%
Complements in consumption
0%
The price of the good changes
Q.6.
If the quantity supplied exceeds the quantity demanded the market price will fall until
0%
Quantity demanded equals quantity supplied
0%
Increase demand for the Galaxy tab
0%
The firm has an incentive to decrease supply now and increase supply in the future
0%
Quantity demanded equals quantity supplied, the market price will then equal the equilibrium price
Q.7.
The demand by all the consumers of a given good or service is the ___ for the good or service
0%
Normal good
0%
Inferior good
0%
Quantity demanded equals quantity supplied, the market price will then equal the equilibrium price
0%
Market demand
Q.8.
By drawing the demand curve with ___ on the vertical axis and ___ on the horizontal axis, economists assume that the most important determinant of the demand for a good is the ___
0%
Price ; quantity ; price
0%
A shortage of oranges
0%
Complements in consumption
0%
Decrease in quantity demanded
Q.9.
A decrease in the price of gps systems will result in
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Quantity demanded equals quantity supplied
0%
The supply curve has shifted to the right
0%
A smaller quantity of gps systems supplied
0%
Decrease in the price of a complementary good
Q.10.
Which of the following will shift the demand curve for a goid
0%
Decrease in the price of a complementary good
0%
Quantity demanded equals quantity supplied
0%
Decrease in the price of an input used to produce them
0%
Decrease in the price of cattle
Q.11.
Holding everything else constant, an increase in the price of MP3 players would result in
0%
Decrease in the price of an input used to produce them
0%
Decrease in the price of a complementary good
0%
A decrease in the quantity of MP3 players demanded
0%
An increase in demand is a rightward shift of the curve while increase in quantity demanded is a movement along the curve
Q.12.
What is the difference between increase in demand and increase in quantity demanded
0%
Increase in supply means the supply curve has shifted to the right while increase in quantity supplied refers to a movement along the curve in response to price
0%
Decrease in the price of an input used to produce them
0%
A decrease in the quantity of MP3 players demanded
0%
An increase in demand is a rightward shift of the curve while increase in quantity demanded is a movement along the curve
Q.13.
A movement along the demand curve for toothpaste would be caused by
0%
A change in the price of toothpaste
0%
Decrease in the price of cattle
0%
The demand curve for new books shifts to the left
0%
Decrease in the price of a complementary good
Q.14.
If a demand curve shifts to the right then
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Demand has increased
0%
A smaller quantity of gps systems supplied
0%
Market demand
0%
Complements in consumption
Q.15.
If the Apple iPad and Galaxy tab are substitutes, then, other things equal, an increase in the price of the iPad will
0%
Increase demand for the Galaxy tab
0%
Decrease in quantity demanded
0%
Decrease in the price of cattle
0%
Quantity demanded equals quantity supplied
Q.16.
The Internet has created a new category in the book selling market called "barely used" how does the availability of barely used books affect the market for new books
0%
The demand curve for new books shifts to the left
0%
The supply curve for digital photo printing services shifts to the right
0%
The supply curve has shifted to the right
0%
A change in the price of toothpaste
Q.17.
Ranchers can raise either sheep or cattle, which of the following would cause the supply of sheep to increase
0%
Decrease in the price of a complementary good
0%
Decrease in the price of an input used to produce them
0%
Decrease in quantity demanded
0%
Decrease in the price of cattle
Q.18.
One would speak of change in the quantity of a good supplied rather than a change in supply if
0%
The price of the good changes
0%
The supply of peaches has decreased
0%
Decrease in quantity demanded
0%
Decrease in the price of cattle
Q.19.
At a products equilibrium price
0%
The firm has an incentive to decrease supply now and increase supply in the future
0%
The supply curve for digital photo printing services shifts to the right
0%
The products demand curve crosses the products supply curve
0%
The supply curve has shifted to the right
Q.20.
If, in response to an increase in the price of chocolate, the quantity demanded of chocolate decreases, economists would describe this as
0%
Decrease in the price of cattle
0%
Decrease in the price of an input used to produce them
0%
Increase demand for the Galaxy tab
0%
Decrease in quantity demanded
Q.21.
If in the market for peaches the supply curve has shifted to the left
0%
The supply of peaches has decreased
0%
The price of the good changes
0%
Decrease in the price of a complementary good
0%
The supply curve has shifted to the right
Q.22.
Which of the following would shift the supply curve for MP3 players to the right
0%
Decrease in the price of an input used to produce them
0%
Decrease in the price of cattle
0%
Quantity demanded equals quantity supplied
0%
Decrease in the price of a complementary good
Q.23.
Which of the following is the correct way to describe equilibrium in the market
0%
Quantity demanded equals quantity supplied, the market price will then equal the equilibrium price
0%
Decrease in the price of an input used to produce them
0%
Quantity demanded equals quantity supplied
0%
Decrease in the price of a complementary good
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