If supply is unchanged, a decrease in the demand for coffee will cause the equilibrium price to: Answers: A. Fall and equilibrium quantity to fall. B. Rise and equilibrium quantity to rise. C. Rise and equilibrium quantity to fall. D. Fall and equilibrium quantity to rise.

What happened to the equilibrium price and quantity of Chick-fil-A when Popeye's released their chicken sandwich? A. Price decrease, Quantity decrease B. Price decrease, Quantity increase C. Price increase, Quantity decrease D. Price increase, Quantity increase

6. How will the following events affect equilibrium price and quantity for the product highlighted in italics? In each case, identify how the supply or demand curve shifts.   a. A drop in consumer incomes influences the demand for dry cleaning b. Declining numbers of law school graduates affect the supply of legal services c. Consumer expectations that the price of turkeys will soon rise affect the current demand for turkeys d. A cost-saving technological innovation influences the supply of rice

A decrease in demand will cause a decrease in the equilibrium quantity and the equilibrium price. a. True b. False

Please give me correct answer with full explanation and drawing carefully; otherwise, i give multiple downvote

N. If the demand curve for a life-saving medicine is perfectly inelastic, then a reduction in supply will cause the equilibrium price to: A. rise and the equilibrium quantity to fall. B. rise and the equilibrium quantity to stay the same. C. rise and the equilibrium quantity to rise. D. stay the same and the equilibrium quantity to fall.

Which graph shows an increase in quantity demand? Choose from 1, 2, or 3.

25. Suppose the price of insulin injection kits rose from $72 to $98 but the equilibrium quantity remained the same. What pattern of changes could explain that? a. demand increased and supply increased b. demand decreased and supply increased c. demand increased and supply decreased d. demand decreased and supply decreased e. none of the above

Which of the following is one of the factors determining if demand for a good is price elastic or price inelastic? Select one: a. The cost of the resources used in producing the good. b. The relative share of the budget spent on the good. c. Whether the good is a substitute or a complement. d. Whether the good is imported or exported.

How would you work this?