Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Question
Chapter 4, Problem 2MCQ
To determine
To select:
The correct option which will increase demand for jeans.
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Explain how each of the following events changes the demand for or supply of jeans.
A. People's incomes increase.
B. A new technology becomes available that reduces the time it takes to manufacture a pair of jeans.
C. The price of the cloth (denim) used to make jeans falls.
D. Jeans come back into fashion.
E. The price of a pair of jeans falls.
F. The wage rate paid to garment workers rises.
G. Many jeans producers go out of business.
H. The price of a denim skirt halves.
A. Event G decreases supply and event H increases demand.
B. Event B decreases supply and event G increases demand.
O C. Event C increases demand and event D increases supply.
D. Event E increases demand and event F decreases supply.
OE. Event A increases demand and event B increases supply.
ge 1:
C
age 2:
Do
Pairs of Inline Roller Skates
This diagram shows the market for in-line roller skates. Which of the following would cause a move from
Page 3:
point A to point B?
3
an increase in the price of bicycles
Page 4:
a decrease in the price of bicycles
a decrease in consumer incomes
Da popular new movie that convinces teens that skateboards are really cool
What causes a change in the quantity supplied? Graph a supply curve and show a change in quantity supplied.
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Similar questions
- Draw the Graph – Part 1 a. What is the difference between a "change in demand" and a "change in quantity demanded?" Graph your answer. b. For each of the following changes, determine whether there will be a change in quantity demanded or a change in demand. i. a change in the price of a related good ii. a change in tastes iii. a change in the number of buyers iv. a change in price v. a change in consumer expectations vi. a change in incomearrow_forwardDue to fall in cost of making bicycle, the price of bicycle had gone down. What changes will we see in the demand curve of bicycle.arrow_forwardOne Analyze the effect of each scenario on the price of khaki pants. Consider the following scenarios. Think about how each scenario would affect the price of khaki pants. A new technology reduces the time it takes to make a pair of khaki pants. The price of the cloth used to make khaki pants falls. The wage rate paid to garment workers increases. The price of jeans increases. People's incomes increase.arrow_forward
- if nothing else is changing. what will happen when the price for using golf courses falls ? A. more people purchase golfing equipment B. the supply of golf courses increases C. the demand rises for other summer activities D. the amount of people golfing fallsarrow_forwardWhat happens in the graph when the price of bottled water rises? Screenshots attached below thank youarrow_forwardIn the market for lattes, if the number of coffee shops increases, how does the quantity of lattes demanded and the demand for lattes change? The quantity of lattes demanded ________ and the demand for lattes ________. A. increases; does not change B. does not change; increases C. increases; increases D. decreases; does not changearrow_forward
- Analyze the following graph and answer to the following questions .6 Price of pizxa, P D2 D, Quantity of pizza, Q ?a. When consumer's income rises, what happens to the demand for pizza ?b. What happens to demand curve? Where is it shifted ?c. What happens to equilibrium price and quantity of Pizza, when consumer's income rises .Observe the following graph and answer the following questions .7arrow_forwardThe law of demand says that when price Select one: a. rises, quantity demanded rises also b. falls, quantity supplied falls also c. falls, quantity supplied rises d. rises, quantity demanded falls.arrow_forwardA change in which of the following will shift the demand curve for hamburgers? Select one: a. A fall in the price of french fries, a complement for hamburgers. b. An increase in the price of a hamburger. c. An increase in the number of hamburger restaurants. d. An.increase in the price of the meat used to produce hamburgers.arrow_forward
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