Consider the market for new textbooks, a normal good.  Assume that the cost of shipping textbooks from the warehouse to the buyer rises. What will happen to the equilibrium price and quantity?     the equilibrium price and quantity both decrease.     the equilibrium price and quantity both increase.     the equilibrium price decreases and the equilibrium quantity increases.     the equilibrium price increases and the equilibrium quantity decrease

An increase in supply and a decrease in demand occur in a market. What happens to the equilibrium price and quantity?

Consider the supply and demand for electric cars. If the materials used to make specifically electric car batteries become significantly more expensive at the same time that consumer income drastically increases, what will happen to the price and quantity demanded of electric cars?

What is the equilibrium price? What is the equilibrium quantity? Quantity Demanded 5 6 7 8 9 10 11 Price $7 6 5 4 3 2 1 Quantity Supplied 9 8 7 6 5 4 3

One of the following factors that can best explain why there has been a decline in the equilibrium price and the equilibrium quantity of corn:A) an increase in the demand for corn.B) a decrease in the demand for corn.C) a decrease in the supply of corn.D) an increase in the supply of corn.

Initially, the market for nitrile gloves is in equilibrium. In applying the concepts of supply and demand, which of the following will happen at the new equilibrium point in the nitrile gloves market if the demand curve shifts to the right by the same amount that the supply curve shifts to the right? The price of nitrile gloves will increase. The price of nitrile gloves will decrease. The price of nitrile gloves will stay the same. There will be a surplus of nitrile gloves in the market. There will be a shortage of nitrile gloves in the market.

Assume the demand for sugar decreases and the supply of sugar decreases. Which of the following outcomes is certain to occur? The equilibrium price of sugar will fall. The equilibrium quantity of sugar will fall. The equilibrium quantity of sugar will rise. The equilibrium price of sugar will rise.

A newspaper report states that chocolate production is failing to keep up with worldwide consumption and could fall behind by 2 million metric tons annually by 2030. Does this create an excess demand or excess supply situation? Explain how it will affect the price of chocolates in the future.

What would happen to the equilibrium price and quantity of lattés if coffee shops began using a machine that reduced the amount of labor necessary to produce steamed milk, which is used to make lattés, and scientists discovered that lattés reduce heart attacks. A) Both the equilibrium price and quantity would increase. B) Both the equilibrium price and quantity would decrease. C) The equilibrium price would decrease, and the effect on equilibrium quantity would be ambiguous. D) The equilibrium quantity would increase, and the effect on equilibrium price would be ambiguous. E) The equilibrium quantity would decrease, and the effect on equilibrium price would be ambiguous.