Microeconomics – Chapter 4 part 2

The quantity supplied of a good is the amount that

A decrease in the price of a good will

An increase in the price of a good will

Which of the following would cause a movement along the supply curve for cupcakes

A decrease in the price of oranges would lead to a(n)

An increase in the price of blueberries would lead to a(n)

The law of supply states that, other things equal, when the price of a good

Which of the following demonstrates the law of supply

Which of the following demonstrates the law of supply

An increase in supply is represented by a

A decrease in supply is represented by a

Which of the following changes would not shift the supply curve for a good or service?

Which of the following would not shift the supply curve for mp3 players?

the sum of all the individual supply curves for a product is called

Suppose you make jewelry. If the price of gold falls, then we would expect you to

Workers at a bicycle assembly plant currently earn the mandatory minimum wage. If the federal government increases the minimum wage by $1.00 per hour, then it is likely that the

Suppose there is an increase in the price of steel. We would expect the supply curve for steel beams to

Which of the following would shift the supply of Green Bay Packers football jerseys to the left

Suppose an increase in the price of rubber coincides with an advance in the technology of tire production. As a result of these two events, the demand for tires

An improvement in production technology will shift the

Which of the following might cause the supply curve for an inferior good to shift to the right

Ashley bakes bread that she sells at the local farmer's market. If she purchases a new convection oven that reduces the costs of baking bread, the

If suppliers expect the price of their product to fall in the future, then they will

A CPA recently has come to except higher prices for expert tax advice in the near future. We would expect

Recent forest fires in the western states are expected to cause the price of lumber to rise in the next six months. As a result, we can expect the supply of lumber to

Funsters, Inc., the largest toy company in the country,
sells its most popular doll for $15. It has just learned that its leading competitor Toysorama is mass
producing an excellent copy and plans to flood the market with their $5 doll in 6 weeks. Funsters should
increase the supply of their doll now before the other doll hits the market

Today's supply curve for iPods could shift in response to a change in

Which of the following is a determinant of the market supply curve but not a determinant of an individual seller's supply

If the number of sellers in a market increases, then the

A decrease in the number of sellers in the market causes

An increase in which of the following would shift the supply curve for gasoline to the right

Which of the following events could cause an increase in the supply of ceiling fans

the unique point at which the supply and demand curves intersect is called

Which of the following events must cause equilibrium price to rise

Which of the following would cause price to decrease

When a surplus exists in a market , sellers

Suppose roses are currently selling for $40 per dozen, but the equilibrium price of roses is $30 per dozen. We would expect a

If a shortage exists in a market, then we know that the actual price is

Which of the following events must result in a higher price in the market for cigars

exceptionally favorable growing conditions in the vineyards of Napa Valley would cause a(n)

the amount of a good that buyers are willing and able to purchase

any change that raises the quantity that buyers wish to purchase at any given price shifts the demand curve to the right. Any change that lowers the quantity that buyers wish to purchase at any given price shifts the demand curve to the left

What are the factors that would lead to a shift in demand

the amount of a good that sellers are willing and able to sell

any change that raises the quantity that sellers wish to produce at any given price shifts the supply curve to the right. Any change that lowers the quantity that sellers wish to produce at any given price shifts the supply curve to the left

what are the factors that would lead to a shift in supply

Demand Increases

Supply Increases

Demand decreases

Supply decreases