Question : 49) Farmers can plant either corn or soybeans in their : 1387387

49) Farmers can plant either corn or soybeans in their fields. Which of the following would cause the supply of soybeans to increase?

A) an increase in the price of soybeans

B) a decrease in the price of corn

C) an increase in the demand for corn

D) an increase in the price of soybean seeds

50) Which of the following would shift the supply curve for energy drinks to the left?

A) a decrease in the expected future price of energy drinks

B) an increase in consumer income (assuming that energy drinks are normal goods)

C) a decrease in the number of firms that produce energy drinks

D) a decrease in the price of an input used to produce energy drinks

51) If a firm expects that the price of its product will be lower in the future than it is today

A) the firm has an incentive to increase supply now and decrease supply in the future.

B) the firm has an incentive to decrease supply now and increase supply in the future.

C) the firm has an incentive to increase quantity supplied now and decrease quantity supplied in the future.

D) the firm will not change supply until it knows for certain what will happen to its price.

52) A firm has an incentive to decrease supply now and increase supply in the future if it expects that

A) more firms will enter the market in the future.

B) the prices of inputs used to produce the product will rise in the future.

C) the price of its product will be lower in the future than it is today.

D) the price of its product will be higher in the future than it is today.

53) The supply curve for umbrellas

A) shows the supply of umbrellas consumers are willing and able to buy at any given price.

B) is downward sloping.

C) shows the relationship between the quantity of umbrellas firms are willing and able to supply and the quantity of umbrellas consumers are willing and able to purchase.

D) shows the relationship between the price of umbrellas and the quantity of umbrellas supplied.

54) An increase in the price of MP3 players will result in

A) a smaller quantity of MP3 players supplied.

B) a larger quantity of MP3 players supplied.

C) a decrease in the demand for MP3 players.

D) an increase in the supply of MP3 players.

55) Which of the following would cause a decrease in the supply of peanut butter?

A) a decrease in the price of jelly (assuming that peanut butter and jelly are complements)

B) a decrease in the price of peanut butter

C) an increase the price of peanuts

D) an increase in the technology used to produce peanut butter

56) In April, market analysts predict that the price of titanium will fall in May. What happens in the titanium market in April, holding everything else constant?

A) The supply curve shifts to the right.

B) The supply curve shifts to the left.

C) The quantity demanded and the quantity supplied of titanium increase.

D) The demand curve shifts to the right.

57) The popularity of digital cameras has enticed large discount stores like Wal-Mart and Costco to offer digital photo printing services. How does this affect the digital photo printing market?

A) The demand curve for digital photo printing services shifts to the right.

B) The demand curve for digital photo printing services shifts to the left.

C) The supply curve for digital photo printing services shifts to the right.

D) The supply curve for digital photo printing services shifts to the left.

58) Farmers can raise either goats or ostriches on their land. Which of the following would cause the supply of goats to decrease?

A) an increase in the price of ostriches

B) a decrease in the price of goats

C) an increase in the demand for goats

D) an increase in the price of ostrich feed