Supply & Demand Unit Review

which of the following would shift the demand curve for gas to the left?

the law of supply says that when price increases

coke and pepsi are substitutes the price of coke rises. what happens to demand for pepsi?

when incomes increase by 1%, and demand for this good increases by 2%, this is a

P of inputs decreases, what is the effect on a market

What is the basic principle of the law of demand?

When the price of a good increases by 1%, and demand falls by 1%, demand is

If both supply and demand for wheat increase

What is the effect of government subsidies on supply?

If the price of good A increases by 4%, and demand for good B increases by 2%, this is a

a shift in a curve is due to

When buyers purchase as much as sellers are willing to sell, what condition has been reached?

In order for a price floor to be binding, it would have to be set

two goods are complements when a decrease in price of one good

when the quantity demanded exceeds the quantity supplied, you have

when the quantity supplied exceeds the quantity demanded, you have a

in order for a price ceiling to be binding, it would have to be set

Price increases by 2%, and demand decreases by 4%, demand is