Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / Given that frozen yogurt and ice cream are substitutes, a shift in preferences in favor of

Given that frozen yogurt and ice cream are substitutes, a shift in preferences in favor of

Given that frozen yogurt and ice cream are substitutes, a shift in preferences in favor of yogurt would be predicted to do all of the following EXCEPT

a.raise the equilibrium price of frozen yogurt.

b.increase the quantity supplied of frozen yogurt.

c.increase the supply of ice cream.

d.increase the demand for frozen yogurt.

 

 

 

59.A decrease in the expected price of corn would likely do the following to the current supply and demand for corn:

a.increase both the demand and the supply.

b.decrease both the demand and the supply.

c.increase the demand, but decrease the supply.

d.increase the supply, but decrease the demand.

 

 

 

60.An increase in the expected price of corn would likely do the following to the current supply and demand for corn:

a.increase both the demand and the supply.

b.decrease both the demand and the supply.

c.increase the demand, but decrease the supply.

d.increase the supply, but decrease the demand.

 

 

 

61.In moving along a demand curve, which of the following is NOT held constant?

a.the prices of substitute goods

b.the prices of complementary goods

c.consumer incomes

d.the price of the good for which the demand curve is relevant

 

 

 

62.An "increase in the quantity demanded" means that

a.the demand curve has shifted to the right.

b.the supply curve has shifted to the left.

c.price has declined and consumers therefore want to purchase more of the good.

d.given supply, the price of the good can be expected to rise.

 

 

 

63.A "decrease in the quantity demanded" means that

a.the demand curve has shifted to the right.

b.the supply curve has shifted to the left.

c.price has declined and consumers therefore want to purchase more of the good.

d.price has increased and consumers therefore want to purchase less of the good.

 

 

 

64.An "increase in demand" means that

a.the demand curve has shifted to the left.

b.price has declined and consumers want to purchase more of the good.

c.the demand curve has shifted to the right.

d.the price of the good can be expected to decline, assuming supply stays constant.

 

 

 

65.A "decrease in demand" means that

a.the demand curve has shifted to the left.

b.price has declined and consumers want to purchase more of the good.

c.the demand curve has shifted to the right.

d.the price of the good can be expected to decline, assuming supply stays constant.

Dec 09 2019 View more View Less

Answer (UnSolved)

question Get Solution

Related Questions