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Duplicate of Supply and Demand Flashcards | StudBud

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Duplicate of Supply and Demand

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Questions 7

Answers

1
Taylor Swift eats Cheerios for breakfast and makes them a popular breakfast choice among tweens
The demand curve for Cheerios will shift to the right
The demand curve for Cheerios will shift to the left
the supply curve for Cheerios will shift to the right
the demand curve for Cheerios will remain unchanged
2
Cheerios and corn flakes are substitute goods. If the price of corn flakes goes up . . .
the demand for Cheerios will increase
the demand for corn flakes will remain unchanged
the demand for corn flakes will increase
the demand for Cheerios will decrease
3
Cheerios and milk are complimentary goods. When the price of milk goes up . . .
the demand for milk will increase
the demand for Cheerios will decrease
the demand for Cheerios will increase
the demand for Cheerios will not change
4
The price of Cheerios increases . . .
the supply curve for Cheerios will shift to the right
The demand curve for Cheerios will shift left
There will be a movement along the demand curve
the demand curve for Cheerios will shift right
5
If the price of Cheerios goes up . .
I don't know what consumers will do
consumer demand will not change
consumers will demand less
consumers will demand more
6
Oats are an input for Cheerios. If the price of oats rises . . .
the supply of Cheerios will decrease
the demand for Cheerios will increase
the supply of Cheerios will increase
the supply of Cheerios will be unaffected
7
If the price of Cheerios goes up . . .
suppliers will supply less
I don't know what suppliers will do
supply will not change
suppliers will supply more