Good Alpha is used to make Good Beta. The price of Good Alpha falls. In the market for Good Beta, this would cause which of the following? P* and Q* rise P* rises while Q* falls P* falls while Q* rises we move to the left along the demand curve P* and Q* fall

In 2011 oil production in Libya was interrupted by political unrest. At the same time, the demand for oil by China continued to rise.a. Demonstrate the impact on the quantity of oil bought and sold. Instructions: Draw a parallel shift in the demand or supply curve(s) by grabbing, dragging, and then dropping the curve(s) to the new position(s). In the market for oil, compared to the initial equilibrium (E0), the impact of these events on price is  (Click to select) (to increase price, to decrease price or uncertain) and the impact on quantity is  (Click to select) (to decrease quantity, to increase quantity, or uncertain)b. Oil production in Libya returned to its original levels by the end of 2012. What was the likely effect on equilibrium oil price and quantity?Compared to the equilibrium identified in part a, price will  (Click to select) ( remain unchanged, decrease, increase) and quantity will  (Click to select) (increase, decrease, or remain unchanged )

Many professional sports teams increase their ticket prices every year, but they keep selling out their home games. Does this mean that tickets to sporting events are not subject to the law of demand (law of demand states that an increase in price leads to a decrease in quantity demanded)? Please give an explanation.

If E were the old equilibrium in the market for wheat in the figure below, and E' the new one, which of the following could have caused the change? E' (E D' D2 Consumer income rose, causing a supply shift. Bad weather caused a supply shift. Supply and demand both shifted. Consumer income rose, causing a demand shift. All of the above are plausible descriptions. а. b. c. d. e.

Suppose that Bob and Cho are the only suppliers of pizza slices in a particular market. The following table shows their weekly supply schedules: Price (Dollars per slice) 1 2 3 4 5 PRICE (Dollars per slice) 6 5 0 0 Bob's Quantity Supplied Cho's Quantity Supplied (Slices) 0 (Slices) 5 4 9 On the following graph, plot Bob's supply of pizza slices using the green points (triangle symbol). Next, plot Cho's supply of pizza slices using the purple points (diamond symbol). Finally, plot the market supply of pizza slices using the orange points (square symbol). 4 Note: Line segments will automatically connect the points. Remember to plot from left to right. 8 6 7 12 8 16 QUANTITY (Slices) 12 20 14 24 15 A Bob's Supply Cho's Supply Market Supply

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.

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

Given: In the summer, when concert tickets sell for $75, there are always 150,000 people that are willing and able to buy them, and the producers are willing and able to release 300,000 tickets. When the price falls to $50 a ticket, 75,000 more people are willing and able to buy them, but the producers are only willing and able to release 100,000 tickets. Question 3: Demand for Concert Tickets Price 0.0+ 0.0 Question 4: Supply for Concert Tickets Price 0.0+ 0.0 Quantity Quantity

Multiple Choice O O O D2 to D1 D3 to D1 Point b to point A Point a to point b