Foundations of Economics (8th Edition)
8th Edition
ISBN: 9780134486819
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
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Question
Chapter 4, Problem 4MCQ
To determine
To select:
The correct option which state that the supply of smartphones will increase in thesmartphones market.
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Students have asked these similar questions
Which would cause a decrease in the quantity of computers supplied?
A. An increase in the demand for computers
B. A decrease in the demand for computers
C. An increase in the incomes of consumers
D. A decrease in the price of parts for making computers
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 falls
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 income
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Similar questions
- Which of the following is NOT a determinant of demand? a. Consumers' incomes b. Expected changes in prices in the future c. Production technology d. Consumers' tastes and preferencesarrow_forwardIce cream is made from fresh milk. A change occurs in the market for ice cream and the supply of ice cream changes. How does the supply change and why? The supply of ice cream ________. A. decreases today when the price is expected to rise next month B. increases when the price of fresh milk rises C. increases when ice cream workers are paid a higher wage rate D. decreases when new technology lowers the cost of producing ice creamarrow_forwardWhich of the following will not lead to a decrease in the demand for petrol? A. An increase in price of motor cars B. A decrease in consumers' income C. An expected fall in the price of petrol D. An increase in the price of petrolarrow_forward
- Which of the following would most likely increase the demand for peanut butter? a. the invention of a new product that consumers think is a good substitute for peanut butter b. crop failures that raise the price of peanuts c. the discovery that excessive consumption of peanut butter is harmful to one's health d. a decrease in the price of jelly, a good that is often used with peanut butterarrow_forward48. An increase in the price of electricity will: a) increase the demand for kerosene heaters. b) increase the demand for light bulbs. c) increase the demand for stereos. d) increase the demand for TVs.arrow_forwardWhich of the following will not cause a change in the demand for coffee. A. a decrease in the price of milk, a complementB. an increase in the price of coffeeC. an increase in the price of tea, a substituteD. an increase in the number of people drinking coffeearrow_forward
- The "supply of new houses" in Houston is best understood to mean which of the following ? A. As the price of new houses in Houston fell in 2020, builders built fewer new houses. B. The number of new houses purchased in Houston in 2020. C. The quantity of new houses that builders are willing and able to build at various prices in a given period of time. D. The number of new houses built in Houston in 2020.arrow_forwardA. Keeping all other factors constant, graphically show the effects of the following on the demand for sugar. Below each graph, indicate whether there is an increase or decrease in demand/quantity demanded. 1. The population expects that there will be 2. The price of coffee goes up shortage of sugar one month from now 3. The population consumes more nutrasweet (a sugar substitute) 4. The price of sugar goes downarrow_forward
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