Question : 71) The above figure shows the market for pizza. The : 1239015

 

71) The above figure shows the market for pizza. The market is in equilibrium when new pizza firms enter the market. What point represents the most likely new price and quantity?

A) A

B) B

C) C

D) D

E) E

72) The above figure shows the market for pizza. The market is in equilibrium when some of the pizza firms go out of business. What point represents the most likely new price and quantity?

A) A

B) B

C) C

D) D

E) E

73) The above figure shows the market for pizza. The market is in equilibrium when people learn that eating pizza helps prevent heart disease. What point represents the most likely new price and quantity?

A) A

B) B

C) C

D) D

E) E

74) The above figure shows the market for pizza. The market is in equilibrium. Pizza and tacos are substitutes for consumers. The price of tacos falls. What point represents the most likely new price and quantity?

A) A

B) B

C) C

D) D

E) E

75) If both the supply and demand curves shift simultaneously, we can always predict what will happen to

A) both the price and the quantity.

B) either the price or the quantity, but not both.

C) only the price.

D) only the quantity.

E) neither the price nor the quantity.

76) A competitive market is in equilibrium. Then there is an increase in demand and an increase in supply. The equilibrium price ________, and the equilibrium quantity ________.

A) rises; increases

B) perhaps changes but we can’t say if it rises, falls, or stays the same; does not change

C) falls; increases

D) perhaps changes but we can’t say if it rises, falls, or stays the same; increases

E) falls; perhaps changes but we can’t say if it increases, decreases, or stays the same

77) If the demand and supply both increase equally, then the equilibrium price ________ and the equilibrium quantity ________.

A) increases; increases

B) increases; does not change

C) does not change; increases

D) increases; decreases

E) decreases; does not change

78) Kiwis and strawberries are substitutes for consumers. An increase in the price of a kiwi coupled with an increase in the number of strawberry growers ________ the equilibrium price of a pound of strawberries and ________ the equilibrium quantity of strawberries.

A) raises; increases

B) probably changes, but more information is needed to determine if it rises or falls; increases

C) raises; probably changes, but more information is needed to determine if it increases or decreases

D) lowers; probably changes, but more information is needed to determine if it increases or decreases

E) lowers; increases

79) A competitive market is in equilibrium. Then there is a decrease in demand and a decrease in supply. The equilibrium price ________, and the equilibrium quantity ________.

A) rises; decreases

B) perhaps changes but we can’t say if it rises, falls, or stays the same; decreases

C) falls; increases

D) perhaps changes but we can’t say if it rises, falls, or stays the same; increases

E) rises; increases

80) If both supply and demand decrease by the same amount, the equilibrium price

A) does not change.

B) rises.

C) falls.

D) cannot be predicted.

E) None of the answers is correct because the price depends on what happens to the equilibrium quantity.

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more