The price of blue ties, a substitute good for purple ties, decreases

the price of purple ties decreases

The price of purple striped shirts, a complimentary good, decreases

The price of purple ties increases

The price of silk, a resource needed to make ties, increases

The price of purple ties increases

The price of pink ties rises in spring. Tieconsumers expect purple ties to go on sale soon.

The price remains the same but the quantity decreases

The government taxes the use of silk

the price of purple ties increases

The government subsidizes the production of ties

The price of purple ties decreases

GQ magazine names purple ties a "must have" this spring so multiple purple tie factories open

the price of purple ties is the same but quantity goes up

New producers enter the competitive market of purple ties

The price of purple ties decreases

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Market Clearing Price

10 termsStudBud Administration47 plays

A short quiz to assess understanding of the influence of supply and demand shifters on market clearing price.

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Questions 10

Answers

1
The price of blue ties, a substitute good for purple ties, decreases
the price of purple ties decreases
the supply of purple ties increases
Demand for purple ties increases
The price of purple ties increases
2
The price of purple striped shirts, a complimentary good, decreases
The price of purple ties decreases
there is no change
the demand for purple ties decreases
The price of purple ties increases
3
The price of silk, a resource needed to make ties, increases
The demand for purple ties increases
the price of purple ties decreases
there is no price change
The price of purple ties increases
4
Chapel Hill is named the most beautiful tourist locations in the world!
Tourism prices decrease
Tourism prices increase
quantity demanded increases
There is no change in price
5
The price of pink ties rises in spring. Tieconsumers expect purple ties to go on sale soon.
The price of purple ties decreases
The price remains the same but the quantity decreases
The price remains the same but the quantity increases
The price of purple ties increases
6
The government taxes the use of silk
the price of purple ties decreases
the price of purple ties increases
there is a a shortage
the demand for purple ties increase
7
The government subsidizes the production of ties
the quantity supplied increases
the price of purple ties increases
The demand for purple ties decreases
The price of purple ties decreases
8
GQ magazine names purple ties a "must have" this spring so multiple purple tie factories open
The demand for purple ties increases so the price increases
the price of ties increases
the price of purple ties is the same but quantity goes up
The supply of ties increases so the price of ties decreases
9
The income of Chapel Hill townies declines after an early March Madness Loss
Supply increases
The price increases
Quantity demanded increases
The price decreases
10
New producers enter the competitive market of purple ties
The price of purple ties decreases
The price of purple ties increases
the quantity supplied decreases
The demand for purple ties decreases

Market Clearing Price Flashcards | StudBud