Due to technological advancements,the cost of producing electric cars has decreased significantly.How will this impact the market for electric cars? A. It will cause a leftward shift in the supply curve. B. It will cause a rightward shift in the supply curve. C. It will cause a movement up along the demand curve. D. It will cause a movement down along the demand curve.

Indicate whether you would expect the price elasticity of demand for each of the following to be relatively elastic or inelastic.

Which of the following would increase the demand for beef? A.) lower pork prices B.) higher prices of feed grains used to feed beef cattle C.) an increase in the price of beef D.) higher consumer income

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5   During the pandemic in 2020, many more people decided to use home delivery services in order to have meals delivered to them from the restaurant. Suppose the supply of home delivery services is perfectly elastic. You will be asked several questions about this situation. Explain how the pandemic affected the demand for home delivery services. Explain the effect on the equilibrium price and quantity of home delivery services. Explain the effect on the efficient quantity of home delivery services. Explain the effect on the total consumer surplus, the total producer surplus, and the total surplus in the market for home delivery services.

Which of the following does NOT cause a shift in demand? O change in the price of a related good - substitutes or complements O change in tastes and preferences O change in income O change in the price of the good

Which of the following is true about the demand for gasoline?     A. It is probably more price elastic in the short run because price will increase by a higher percentage.   B. It is probably more price elastic in the long run because it is easier to find substitutes for gasoline in the long run.   C. It is probably more price elastic in the short run because it is easier to find substitutes for gasoline in the short run.   D. It is probably more price elastic in the long run because price will increase by a higher percentage.

Will the equilibrium price and quantity of ventilators increase or decrease if a new cost-saving technology is discovered?Select one: a. The discovery of this new technology is a supply shifter and will result in an increase in the quantity and decrease in the price of ventilators. b. The discovery of this new technology is a demand shifter and will result in an increase in both the quantity and price of ventilators. c. The discovery of this new technology is a supply shifter and will result in an increase in the price and decrease in the quantity of ventilators. d. The discovery of this new technology is a

What are a demand schedule and a demand curve? A. A demand schedule is a table showing how the quantity demanded of some product during a specified period of time changes as the price of that product changes, holding all other determinants of quantity demanded constant. When the points of quantity demanded and prices are plotted on a graph, it is called a demand curve. B. C. D. A demand schedule is a table showing how the quantity demanded of some product during a specified period of time changes as the price of that product changes. When the data is plotted it on a graph is called a demand curve. A demand schedule is a table showing how the quantity demanded of some product as the price of that product changes. When the data is plotted on a graph it is called a demand curve. A demand schedule is a table showing the quantity demanded of good or service by rational individuals with steady income. When the data is plotted on a graph it is called a demand curve.

Which of the following statements, all made by a car rental agency, describes an inelastic demand curve?   A. "We're worried that a recession will mean a big drop in sales" B. "As the price of rental cars has increased, we've doubled our rental car inventory" C. "We've doubled the hourly pay for our desk jobs, but still no one is applying!" D. Last summer we increased the price of rental cars by 50%, and we still rented 90% of our typical quantity.