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Supply and Demand Flashcards | StudBud

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Supply and Demand

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Questions 8

Answers

1
If the price of Cheerios goes up suppliers will. . .
not change their behavior.
supply less.
I don't know what suppliers will do.
supply more.
2
The price of Cheerios increases . . .
The demand curve for Cheerios will shift left
the demand curve for Cheerios will shift right
the supply curve for Cheerios will shift to the right
There will be a movement along the demand curve
3
If the price of Cheerios goes up consumers will . .
demand more
demand less
not change their buying habits
I don't know what consumers will do
4
General Mills, the producer of Cheerios is the recipient of a huge government subsidy.
The supply curve will shift right
The supply curve will remain unchanged.
The supply curve will shift left.
The demand curve shifts left and then right.
5
Taylor Swift eats Cheerios for breakfast and makes them a popular breakfast choice among tweens
the supply curve for Cheerios will shift to the right
The demand curve for Cheerios will shift to the left
the demand curve for Cheerios will remain unchanged
The demand curve for Cheerios will shift to the right
6
Cheerios and milk are complimentary goods. When the price of milk goes up the demand for Cheerios will . . .
not change
increase
decrease
both increase and decrease
7
Cheerios and corn flakes are substitute goods. If the price of corn flakes goes up the demand for Cheerios will. . .
decrease
both increase and decrease
remain unchanged
increase
8
Oats are an input for Cheerios. If the price of oats rises the supply of cheerios will . . .
increase
instead affect demand
decrease
be unaffected