If the economy goes into a recession and incomesfall, what happens in the markets for inferior goods?a. Prices and quantities both rise.b. Prices and quantities both fall.c. Prices rise and quantities fall.d. Prices fall and quantities rise.

Q: The figure shows the market for game day t-shirts. If the price of t-shirts is $8, then OA. the…

A: Equilibrium refers to market situation when quantity demanded is equal to quantity supplied.Also…

Q: If both a supply curve and a demand curve shift left, the only definite conclusion is a. Price…

A: In a market, when there is a simultaneous change in demand and supply, there might be an ambiguous…

Q: The law of demand states, other things being equal, the higher the price of a good, the ____

A: Law of demand states that there is an inverse relationship between price and quantity demanded and…

Q: Inferior goods are those for which demand increases as   a. income decreases   Ob.income…

A: Answer: income decreases Inferior goods are those goods that have a negative relationship with the…

Q: PlayStation 3 and XBOX 360 are substitutes. If the price of PlayStation 3 increases what will happen…

A: Two goods are substitutes when one of them can be consumed in place of the other good.

Q: 1. If the price of tacos increase from $2 to $3 then a. demand will increase b. demand will decrease…

A: 1. If the price of tacos increases from $2 to $3 then Quantity demanded will decrease Therefore, the…

Q: The law of supply states that, ceteris paribus, there is an inverse relationship between the price…

A: Supply curve shows the association between the price of commodity and quantity of the commodity that…

Q: demanded?

A: Demand(D) is the quantity(Q) of a commodity that an individual is willing and able to buy at a given…

Q: When the income is increases then there is demand. A. Demand curve is shifting to the right B.…

A: The relationship between income and demand could be explained only if we know the nature of the good…

Q: Butter and margarine are consumption substitutes. The supply of margarine increases. This should A.…

A: Given: There are two goods, butter and margarine. These goods are consumption substitutes.

Q: The accompanying graph contains the supply for knee braces. a. At $8 a brace, how many will be…

A: The price and quantity of products and services in the marketplace are largely computer by consumer…

Q: What happens to the supply curve when the supply of bottled water changes? When the supply of…

A: A Supply curve measures the relationship between the price of the good and to quantity supplied of…

Q: a. Use supply and demand to graphically illustrate the equilibrium price and quantity of Pizza Hut…

A: The markets are the places where the buyers of goods, services and other products meet, and interact…

Q: What happens in the market for bottled water when both the demand for and supply of bottled water…

A: Market forces that are stable and have no plans to alter are said to be in an equilibrium state. In…

Q: True or False? Explain. In economics, "inferior good" is the name for a good which is high quality…

A: Here I am solving only 1st question please post remaining part separately because all are different…

Q: The price of gummy bears, a close substitute for jelly beans, increases. 3. According to the event…

A: Here, it is given that gummy bears and jelly beans are close substitutes, which implies that one of…

Q: Price D2 Do Pairs of Indine Roller Skates This diagram shows the market for in-line roller skates.…

A: In the production process, the conditions and fluctuations that happen between demand and also the…

Q: If computers are like most goods and the price of computers chips fall, then holding all else…

A: Answer: A decrease in the cost of inputs leads to an increase in the supply of a good. As a result,…

Q: QUESTION 31 We say that a good is an inferior good if Oa. the quantity demanded for the good rises…

A: A good is inferior if it is not a normal good. In technical terms, when the demand for a good…

Q: Which will NOT cause a shift of the demand curve to the right?    a. The release of the 13th month…

A: Demand curve shows inverse relationship between price and quantity demanded. Rightward shift in…

Q: If people buy less flowers at every price when their incomes fall, then a. there has been a decrease…

A: Normal goods are those goods whose demand is directly dependent on the income of consumer.  The…

Q: If there is a market shortage of 20 units, what is the impact on price? A. The price is below the…

A: Market shortage is occurs when demand exceeds the supply. In other words, market shortage is the…

Q: The law of demand states that, ceteris paribus, there is an inverse relationship between the price…

A: The demand curve shows the association between the amounts of commodity demanded by the consumer at…

Q: A change in the price of a product will cause: Select one: a. a shift in the supply curve b. a…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Which of the following explains extension of demand? a. Rightward shift of the demand curve b.…

A: Demand refers to the total demand of the good or service demanded by consumers at a given price at a…

Q: If rising incomes cause the demand for beer todecrease, is beer a normal or inferior good?

A:

Q: If price will change, holding other factors constant, the following will happen in the market for a…

A: A market is an arrangement under which buyers and sellers meet to exchange goods and services at a…

Q: In Law of Supply, the quantity supplied of a product decreases when_________ a. Price of the good…

A: According to the law of supply, other things being constant, there exist a  direct relationship…

Q: An increase in demand means that: a. when the price falls, consumers are willing to purchase greater…

A: Demand curve shows inverse relationship between price and quantity demanded.

Q: n the market for cola, how does the market equilbrium change when both the supply of cola and the…

A: Equilibrium refers to the point where market demand and supply intersect with each other.

Q: Q.A person sells 50 units of apple at price $1. What will be the total revenue when price thcrease…

A: Given, Quantity of apple sold at price $1 = 50 units Quantity of apple sold at price $2 = 50 units

Q: Suppose there is an advance in the technology of tire production, in the market for tires     a.…

A: an advance in the technology of tire production, in the market for tires means that it becomes less…

Q: Evaluate the following as true or false. If it is false, You must write the true if the sentence is…

A: According to the law of supply, when the price of a commodity rises, the quantity supplied of it in…

Q: 37. If commodity Mis an inferior good, which of the following must be true? a. The demandcurve for…

A: An inferior good is a good which the consumer will prefer less if he/she can afford better quality…

Q: a. What are the determinants of demand? Instructions: Click the box with a check mark for correct or…

A: Demand shows the relation between P and Q that consumers are willing to buy, assuming all other…

Q: . The price of an economics textbook declines from $50 to $47.50. Quantity demanded rises from 1000…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Other things being equal, a decrease in the quantity supplied to the market at given prices leads…

A: Under normal circumstance, price and quantity holds an inverse relationship. Whenever prices go up,…

Q: Price Σ 3 2 Supply Demand 40 50 60 Quantity If the price starts out at $4, what will surely happen…

A: The setting discussed is a situation concerning economic scenarios presenting supply and demand…

Q: What happened to the equilibrium price and quantity of Chick-fil-A when Popeye's released their…

A: Chick-fil-A and chicken sandwich are substitutes goods. Such goods can be used in the place of…

Q: On the diagram to the​ right, a movement from Upper A to Upper CA to C represents a Part 2  A.…

A: The movement on the diagram from Upper A to Upper CA to C, as described in the explanation, most…