Resource X is necessary in the production of good Y. If the price of resource X decreases A) the supply curve of Y shifts leftward. В the supply curve of Y shifts rightward. C) the supply curve of Y is unaffected. there is a movement down along the supply curve of Y. there is a movement up along the supply E curve of Y.

Tea and coffee are substitutes. If the price of coffee decreases, what happens in the market for tea? a) The demand curve shifts to the right.b) The supply curve shifts to the left.c) The supply curve shifts to the right.d) The demand curve shifts to the left.

The supply curve tends to quantity supplied. due to the fact that, as price rises, so will Slope upwards. Slope downwards. Be a horizontal line. Slope either upwards or downwards.

Consider this simple market for almonds.  Almonds require a lot of water to produce them. A large share of almonds are produced in California, which has recently undergone serious droughts.  These droughts only directly affect one curve.  What effect would that curve shifting have on equilibrium in this market?

A producer of coffee mugs notes that the price of mugs has risen over each of the past three years. The firm decides to expand its coffee mug production. This illustrates ________.   Question 48 options:   A)  the law of equilibrium   B)  the law of market price   C)  the law of demand   D)  the law of supply and demand   E)  the law of supply

The market for cellular phones has seen a combination of improving telecommunication technology and rising consumer incomes. Suppose you are told that the price of cellular phones decreased over the past five years. The decreasing prices of cellular phones, a normal good, implies that the magnitude of:   A. he rightward shift of the demand curve is greater than that of the rightward shift of the supply curve   B. The leftward shift of the demand curve is greater than that of the rightward shift of the supply curve   C. The rightward shift of the demand curve is less than that of the rightward shift of the supply curve   D. The rightward shift of the demand curve is less than that of the leftward shift of the supply curve

The market demand curve O A) is upward sloping. B) is the vertical sum of individual demand curves. C) cannot show a change in demand for a good. D) is the horizontal sum of individual demand curves.

Two goods are substitutes if a decrease in the price of one good. This will lead to: Select one: a. reduces the quantity demanded of the other good b. increases the demand for the other good. c. increases the quantity demanded of the other good d. reduces the demand for the other good

An increase in demand for burgers O results in a movement downward and to the right along a demand curve. O results in a movement upward and to the left along a demand curve. results in an increase in quantity demanded at every price. shifts the demand curve to the left.

All of the following can change the supply curve EXCEPT: A B с D a change in consumer tastes for the product. the number of sellers offering the product technological advances in production the cost of labor.