An announcement that smoking will harm your ability to think clearly will most likely result in
a. an increase in the quantity of cigarettes demanded
b. a decrease in the demand for cigarettes
c. no change in smoking habits
d. an increase in the price of cigarettes
my answer is D
Given that chicken and beef are substitute goods, if the price of chicken decreases substantially, there would be
a. an increase in the demand for beef
b. decrease in the demand for beef
c. Decrease in the quantity of beef demanded.
d. No change in the demand for beef
My answer is A
Given that pizza is a normal good, if student's income at your college increases substantially, there would be
a. an increase in the demand for pizza
b. an increase in the quantity of pizza demanded.
c. A decrease in the demand for pizza
d. No change in the demand for pizza
Hmmm I think the answer should be B© BrainMass Inc. brainmass.com October 24, 2018, 10:21 pm ad1c9bdddf
Remember that suppliers will not be affected by this announcement. They wouldn't be liable to raise prices because of it. Prices are determined by the intersection of the supply and demand curves, so an increase in price would have to come from a shift in one ...
Multiple choice supply and demand analysis questions
Economics, Supply and Demand
Please help me with these definitions.
a. Define economics
b. Define microeconomics
c. Define the Law of supply
d. Define the Law of demand
e. Identify the factors that lead to a change in supply and a change in demand
Analyze the basis for the trends in consumption patterns as discussed in the article. In your analysis, consider the utility derived from the products mentioned in the article, describe what has occurred to change the demand for, or the supply of, the good or service, and market prices of those products or services.View Full Posting Details