Econ Micro Quiz

Mellow Yellow prices increases and the demand for Mountain Dew goes?

The government will put a price ceiling to protect?

If consumers like a good less over time, demand will ______________?

The Air Force increases its wages y 4.5% and sales increase in the Rapid City Area:

The price of a complementary good decreases, this will result in a what for the original good?

Insulin would be elastic or InElastic?

More sellers in a market will usually increase or decrease supply?

If we charge $1.80, will we have a shortage or surplus or Equilibrium?

Computers have save or lose a company $?

When costs of production decrease supply _________?

A Tariff is a tax on ____________?

What price are we going to sell this product?

The cost of Trees to harvest goes up, this causes supply of lumber to _________________?

Salt is Inelastic or Elastic?

The price of gasoline goes up to $4 a gallon today, is this elastic or inelastic?

Gas prices are suppose to increase by 20% in 2021, this is an example of elastic or in-elastic?

The minimum wage increases to $15 per hour, this will cause supply to __________________?

Change I technology often __________ Producers costs which lead to ___________ in Supply.

Few Sellers will likely __________ Supply?

How many units are we going to supply at Equilibrium?