Select the phrase that correctly completes the following statement. "A decrease in the expected future price caused an increase in the supply of smartphones. As a result,OA. the price of smartphones decreased and the demand for smartphones increased."B. the equilibrium quantity of smartphones decreased."OC. the price of smartphones decreased and the quantity of smartphones demanded increased."OD. the price of smartphones decreased. The lower price caused the supply of smartphones to decrease."

Supply refers to the quantity of the goods or services that a seller is willing and able to sell at…

Select the phrase that correctly completes the following statement. "A decrease in the expected future price caused an increase in the supply of smartphones. As a result OA the price of smartphones decreased and the demand for smartphones increased." OB. the equilibrium quantity of smartphones decreased." OC. the price of smartphones decreased and the quantity of smartphones demanded increased." OD. the price of smartphones decreased. The lower price caused the supply of smartphones to decrease."

Select the phrase that correctly completes the following statement. "A decrease in the expected future price caused an increase in the supply of smartphones. As a result OA the price of smartphones decreased and the demand for smartphones increased." OB. the equilibrium quantity of smartphones decreased." OC. the price of smartphones decreased and the quantity of smartphones demanded increased." OD. the price of smartphones decreased. The lower price caused the supply of smartphones to decrease."

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter4: Demand, Supply, And Market Equilibrium

Section: Chapter Questions

Problem 7P

See similar textbooks

Similar questions

What happens to the quantity of smartphones supplied and the supply of smartphones if the price of a smartphone rises? Draw a supply curve of smartphones. Label it. Use any prices and quantities you wish but make your supply curve obey the law of supply. Then draw an arrow to indicate what happens to the quantity of smartphones supplied when the price of a smartphone rises. A rise in the price of a smartphone OA. does not change; does not change OB. increases; increases OC. does not change; increases incroscoe dinge not channe the quantity supplied and supply. 500 450- 400- 350- 300- 250 200 150 100- Price (dollars per smartphone) 50- 0- 0 Quantity (millions of smartphones per ye
Complete the paragraph by filling in the blanks based on what you have learned from the lesson. Choose your answer from the words below. INCREASES PRICE SCHEDULE TECHNOLOGY LESSER PREFERENCES SUBSTITUTE PRODUCT CURVE WEATHER GOVERNMENT POLICY SEASONAL PRODUCTS SURPLUS SHORTAGE I learned additional lessons in Applied Economics. This week I learned about the law of supply which states that when the increases the quantity of products that the producer is willing to sell. and the law of demand which states that the higher the the the demand. To be able to analyze the demand and supply I can use the demand and supply and the demand and supply graphical representation of the relationship of price and quantity. I also understand that aside from price, there are other factors that may affect the supply some of these are and There are also factors that may affect demand like and I can say that it is better if there is market equilibrium which means that the quantity supplied and the quantity…
Suppose we are analyzing the market for Sweet "Halwa" .What will happen to the equilibrium price and quantity of sweet if the price of sugar rises a little during Ramadan and Eid al-Fitr? Select one: a. Price will stay exactly the same and Quantity will decrease b. Price will increase and the Quantity will decrease c. Quantity will stay exactly the same and the price will increase d. None of the answers are correct e. Price will increase and the Quantity will increase O f. Price will decrease and the Quantity will decrease
The graph below depicts the demand for bagels. Which of the following events would result in the change shown? Price D₁ An increase in the price of bagels. D₂ Quantity If the image does not load, you can see it at this link Ex The invention of a new bagel maker which reduces the cost of producing bagels. An increase in the price of donuts, a substitute for bagels. A decrease in the price of bagels.
Explain all the reasons why decrease in the products price will lead to an increase in purchases
The law of demand is an inverse relationship between the price and quantity demanded. Explain how the law of demand related to a recent two purchases that you had to make.
Draw graphs to illustrate the difference between a decrease in quantity supplied and a decrease in supply for condominiums. What are possible reasons for the change in each graph.
Relationship between changes in price and corresponding changes in quantity that consumers will demand is
If advances in PC production technology increased the supply of PCs sharply. The demand for PCs will increase, but not nearly as much as the supply did. As a result what will happen, will the price of a PC rise or fall and the quantity of PCs sold increase or decrease?
suppose pizzas and burgers are substitutes. what will definitely happen if there is an increase in the price of pizza? a. demand for burgers will increase. b. supply of burgers will decrease. c. demand for burgers will decrease. d. supply of burgers will increase.
Decide if it is an increase (right shift) or a decrease (left shift) and write that next to the question. Then write the determinant of supply and a short explanation. Then draw a graph to show the shift. 8. Scientists successfully produce genetically modified pecan trees that can produce twice as many pecans per tree.
Draw a supply and demand curve for peanut butter. The price of jelly rises significantly, what happens to the supply or demand for peanut butter? Why?