A decrease in supply will cause an increase in demand. a decrease in demand. an increase in quantity demanded. a decrease in quantity demanded. a decrease in equilibrium price.

Which of the following will result in an decreased price of beer? An decrease in the number of beer suppliers. A shift to the left of the demand curve for beer. A shift to the left of the supply curve for beer. A increase in the number of beer buyers.

The supply curve will be more price elastic if the good has few substitutes the time the producer has to adjust is long demand is price elastic demand is price inelastic

If consumers' sensitivity to price changes makes demand elastic, then a price decrease leads to: an increase in total revenue. a decrease in supply. an increase in supply. a decrease in total revenue.

When the price of bottled water rises from $3 to $5 a unit, the quantity supplied increases from 500 to 700 units a day. The price elasticity of supply is _____. the supply of the good is _____

Demand for good X is perfectly elastic. Currently, the price of good X is $5 and quantity demanded is 100,000. If the price increases to $7, quantity demanded will be:   Question 13 options:   0   60,000   100,000   Impossible to determine.

Supply: Definitions Law of supply Supply schedule and supply curve