Suppose that demand for a good increases and, at the same time, supply of the good decreases. What would happen in the market for the good? Answer A)Equilibrium price would decrease, but the impact on equilibrium quantity would be ambiguous. B)Equilibrium price would increase, but the impact on equilibrium quantity would be ambiguous. C)Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous. D)Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous.

Listed below are several items which would affect the market for personal computers. For each event, do the following: 1) Tell whether the event shifts demand or supply, 2) tell whether the curve increases or decreases, and 3) report the predicted change in price and quantity of personal computers. a) A fall in the price of software b) A government subsidy to computer makers c) A decrease in consumers' income due to a recession d) An increase in the price of silicon (used in making all kinds of computer chips like CPU's, memory chips, etc.).

Suppose there is an increase in consumers' incomes. In the market for automobiles(a normal good), does this event cause an increase in demand or an increase in quantitydemanded? Does this cause an increase in supply or an increase in quantity supplied?

How would each event affect the market for COVID-19 vaccines? Does the event cause a change in demand or a change in the quantity demanded?  Is the change positive or negative?  Or does the event cause a change in supply or a change in the quantity supplied?  Is the change positive or negative?  Explain the mechanism for the change and what happens to equilibrium price and quantity. a) The vaccine is approved for children under the age of 12. b) The U.S. government provides a subsidy that allows the price of the vaccine to be $0 for everyone. c) Several vaccines pass Phase 3 (large-scale efficacy tests) and are approved by the FDA for full use. d) A truck carrying the Pfizer vaccine has a malfunction and the refrigeration requirements aren’t met, so all the doses go bad. e) School districts and health care facilities add a requirement for getting the vaccine for all employees.

In the table below, fill in the missing blanks to complete the summary of the effects of changes in demand and supply on equilibrium price and quantity. Supply Curve Unchanged Supply Curve Shifts to the Supply Curve Shifts to the Right Left Q unchanged Punchanged Demand Curve Q Q decreases Unchanged P decreases P increases Q increases Q increases Pindeterminant Demand Curve Shifts to Q indeterminant the Right P increases Q decreases P decreases Demand Curve Shifts to the Left P decreases P indeterminant

Once again, consider the market for avocados. Approximately 32 percent of the world's total production of avocados come from Southern California. Suppose that devastating wildfires destroy large swaths of California's avocado crop. Which of the following statements describes the effect the wildfires will have on the price and quantity (i.e., equilibrium price and equilibrium quantity) of avocados?        The price will increase and the quantity will decrease.       The price will decrease and the quantity will increase.       Both the price and the quantity will decrease.       Both the price and the quantity will increase

Suppose there is an increase in consumers' incomes. In the market for automobiles(a normal good), does this event cause an increase in demand or an increase in quantitydemanded? Does this cause an increase in supply or an increase in quantity supplied?

In the market for hats, demand decreases and supply increases. If you know nothing else about happens in the market for hats, what would you predict would happen to the equilibrium price? The equilibrium price decreases The equilibrium price stays the same The equilibrium price increases There is not enough information to determine how the equilibrium price will change

1. Which of the following will result in an uncertainty regarding any change that might occur in the equilibrium quantity but a definite increase in the equilibrium price? a) An increase in demand and a decrease in supply b) A decrease in demand and a decrease in supply c) A decrease in demand and an increase in supply d) An increase in demand and an increase in supply 2. In a production possibility frontier (PPF) graph it is observed that points 1,2,3, and 4 lie on the PPF, Point 5 is outside the PPF, and point 6 is inside the PPF. Which of the following statements is correct? a) Point 6 can be produced only if there is an increase in resource availability and/or an improvement in technology. b) Points 1-4 and 6 can be produced with the currently available resources and technology, but resources are used efficiently only at points 1-4. c) Point 5 can be produced with the currently available resources and technology, but the resource use is inefficient. d) Point 6 can be produced with…

Assume that pickled eggs are an inferior good and its market is currently in equilibrium. What will happen to the equilibrium price and quantity of pickled eggs if consumer incomes increase? Group of answer choices