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demand and supply Flashcards | StudBud

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A decrease in the wage rate of pizza makers will cause a

The quantity demanded of Pepsi has decreased. The best explanation for this is that

demand and supply

7 terms·StudBud Administration·332 plays

basic theory of demand and supply

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Questions 7

Answers

1
The quantity demanded of Pepsi has decreased. The best explanation for this is that
the price of Coca-Cola has increased
Pepsi consumers had an increase in income
the price of Pepsi has increased
Pepsi's advertising is not effective as in the past.
2
A decrease in the wage rate of pizza makers will cause a
movement from B to A
movement from B to C
shift of supply curve from S2 to S3
shift of supply curve from S2 to S1
3
An increase in the price of flour will reduce the supply of doughnuts.
false
true
4
The number of DVDs rents per week increases from 4 to 7. This is caused by
an increase in income if DVDs are a normal good
a decrease in the rental price of DVDs.
an increase in the rental price of DVDs.
a decrease in the price of popcorn, a complement to DVDs.
5
According to the law of demand, as price rise, ceteris paribus,
quantity demanded decreases
demand decreases
quantity demanded increases
demand increases
6
If the demand for coffee decreases as income decreases, coffee is a/an
complementary good
substitute good
normal good
inferior good
7
A shift of the supply curve is caused by a change in a good's own price
true
false