[MUST SHOW WORK] If bus rides are a substitute for taxi rides, then an increase in the price of bus tickets Select one: A. raises the price of taxi rides and increases the quantity demanded of taxi rides. B. raises the price of taxi rides and increases the quantity supplied of taxi rides. C. lowers the price of taxi rides and decreases the quantity demanded of taxi rides. D. lowers the price of taxi rides and decreases the quantity supplied of taxi rides. E. causes none of the above.

1. What will happen in the market for wine if the price of cheese increases (wine and cheese are complements)? 2. What will happen in the market for brewed coffee if the price of coffee beans increases? 3. What will happen in the market for lobster if the government rises the income tax and lobsters are a normal good? 4. What will happen in the market for tomatoes if a new study is released that shows that pesticides used on tomatoes contain cancer forming agents. 5. A fall in airfares from UK has raised the demand for hotels rooms in St. Vincent. 6. Government grants a $1 subsidy on each bottle of milk produced. 7. Government collects a $2 sales tax on each bottle of rum.

6. Beer and Wine are substitutes, favorable weather in California has produced a good harvest grapes (used to produce wine ) What impact does this have on the equilibrium price and quantity? a. Price increases, quantity decreases b. Price decreases, quantity decreases c. Price decreases, and quantity Is ambiguous d. Price is ambiguous, and quantity decreases

Jermaine spends his money on cucumbers and lettuce. If the price of cucumbers falls, the MU per dollar of cucumbers wil and Jermaine will cucumbers for lettuce. a. Fall; substitute b. Rise; substitute c. Fall; supply d. Rise; demand