Consider the market for cheese.  If the price of milk increases, what will be the consequences?   The supply of cheese would rise.   The demand for cheese would fall.   The supply of cheese would fall.   The demand for cheese would rise.

Q: Enumerate Similarities of the concept of demand and concept of supply.

A: The concept of demand says that at higher costs, purchasers will demand less of an economic goods.…

Q: The law of supply states that, ceteris paribus, there is an inverse relationship between the price…

A: Supply curve shows the association between the price of commodity and quantity of the commodity that…

Q: what happens when demand increases and what effect it has of supply

A: Demand and supply are the two marker forces that regulate the free market. Demand is the ability and…

Q: What are the results of “changes in price”? How does this differ from “changes in demand”?

A: The willingness of a consumer to purchase goods and services at a certain price is known as demand.

Q: In the market for coffee, the price has declined by 20% and at the same time the quantity sold has…

A: Demand for a commodity is the desire of the commodity backed by the ability and willingness to pay…

Q: If roses are inferior goods and consumers’ average income falls, there will be a rightward shift…

A: Demand is the willingness and ability of consumers for consuming and buying goods and services at…

Q: how the equilibrium price and quantity change when a change in demand occurs and the supply stay…

A: A demand curve shows the relationship between the price and quantity demanded. A supply curve shows…

Q: A decrease in the current price of a good would increase the demand for the good. increase the…

A: Demand for a good refers to consumer's desire to purchase that good and their willingness to pay for…

Q: a. In December, the price of Christmas trees rises, and the quantity of trees sold rises. Is this a…

A: Microeconomics consists of various laws of supply and also those of demand, that is affected by…

Q: What are five things that will shift a supply curve to the right?

A: Five things that will shift a supply curve to the right are as follows 1.Increase in technology…

Q: Give one reason for decrease in supply of a good

A: Decrease in supply depicts change in "supply" and not quantity supplied. The decrease in supply is…

Q: Draw a diagram that shows a larger increase in demand than the decrease in supply.

A: Demand is the total quantity demanded by the customers of goods and services in the market.

Q: The price of a good will tend to fall when there is excess demand for the good. there is excess…

A: Demand: - Demand is the relationship between the quantity demanded and the price of a good. There is…

Q: Ice cream is made from fresh milk. A change occurs in the market for ice cream and the supply of ice…

A: The law of supply refers to the positive relationship between price and quantity supplied. as price…

Q: An increase in the price of a good would :a. Give producers an incentive to produce more. b.…

A: As per law of supply, there is a positive relationship between price and quantity supplied.

Q: Which of the following would NOT decrease the demand for steak? A. a fall in the price of chicken (a…

A: Demand curve shows an inverse relationship between price and quantity demanded. It slopes downward.

Q: With the help of diagrams, differentiate between a change in quantity demanded and a change in…

A: The demand curve shows the association between the amounts of commodity demanded by the consumer at…

Q: New fertilizers reduce the cost of producing tomatoes. What happens to the equilibrium price and…

A: The demand curve depicts the amounts of a certain commodity or service which customers would be…

Q: A rise in price will increase the quantity demanded.

A: In a market, price refers to the charges paid by a buyer for a specific good when he make a purchase…

Q: If good B is a substitute for good A and the price of good B increases, a. the demand for good A…

A: In a market, if two goods are substitutes of each other, they share direct relation between the…

Q: In the market for lattes, if the number of coffee shops increases, how does the quantity of lattes…

A: law of demand refers to the inverse relationship between price and quantity demanded keeping all…

Q: An increase in the price of jet fuel will ________ air flights and the equilibrium quantity of air…

A: Answer to the question is  as follows:

Q: demand schedule   a. shows how the demand changes when the supply changes. b. is a graph showing a…

A: Demand refers to the total amount of goods and services that the buyers are willing to purchase at…

Q: What would cause a change in demand, and a change in supply?

A: Change in demand is caused by the demand factors other than price. Therefore the following factors…

Q: If the price of beef rises significantly, what will happen in the market for fast-food hamburgers…

A: Beef is one the important input that is used for producing fast-food hamburgers; therefore, as the…

Q: If the price of Pepsi increases, what will happen to the market price of Coke?

A: Suppose two alternate goods can be used for the same purpose, then they are called substitute goods.

Q: What will happen to the equilibrium price and quantity of oranges?

A: There is some relationship between orange and grapefruit.

Q: when the price of a good decreases, what happens to the market?  D & Q demanded both increase  D…

A: In the market, any change in price will influence the equilibrium level because it affects the…

Q: everyone thinks that the price of gas will go up next week, what is likely to happen to the demand…

A: If everyone thinks that the price of gas will go up next week then they will increase the demand for…

Q: how does a decrease in price affect the supply and demand curve?

A: Demand: It is an economic principle that indicates the desire of a consumer to buy the commodity at…

Q: Demand means the desire for a particular good backed up by sufficient purchasing power. Explain.

A: Demand suggests that effective need or need for a goods, that is backed by the facility and…

Q: A decrease in supply causes the price of coffee to fall

A: Answer: Note: you have not asked anything about the statement so I am just explaining whether the…

Q: Increase in supply usually __ the price and __ the quantity demanded. (A) lowers, lowers (B) raises,…

A: The supply can increase due to various factors like decrease in the price of raw material, increase…

Q: The law of demand says that price and quantity demanded are

A: Demand refers to consumer willingness and ability to purchase a good at a particular price level.…

Q: is a change in price lead to a movement along the supply/demand curve? is a change in price lead to…

A: According to the law of demand when there is an increase in price, the quantity demanded falls and…