When supply falls, what happens to quantity demanded in equilibrium? (This should get you to notice that
Question:
When supply falls, what happens to quantity demanded in equilibrium? (This should get you to notice that both suppliers and demanders change their behavior when one curve shifts.)
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (10 reviews)
In equilibrium quantity demanded falls when supply falls A fall in supply ...View the full answer
Answered By
Kenneth Mutia
I have a B.S. in Statistics from the Jomo Kenyatta University of Agriculture and technology. I have been an academic tutor for over 3 years. I have a passion for helping students reach their full potential and am dedicated to helping them succeed. I am patient and adaptable, and I have experience working with students of all ages and abilities, from elementary school to college in their various fields. I have a wide scope of diverse tutoring experience in several courses of study with significant success as a tutor.
0.00
0 Reviews
10+ Question Solved
Related Book For
Modern Principles Of Microeconomics
ISBN: 9781429278416
3rd Edition
Authors: Tyler Cowen, , Alex Tabarrok
Question Posted:
Students also viewed these Business questions
-
When wages rise and the short-run aggregate supply curve shifts up, the result is "cost-push" inflation. If the economy was initially at full employment and the aggregate demand curve was shifted to...
-
What happens when an increase in supply is combined with a decrease in demand? In 2009 the cruise industry invested $4.7 billion on 14 new ships, and in 2010 the industry launched 12 additional new...
-
What happens to the supply curve for dollars in the currency market under the following conditions? a. Americans wish to buy more Japanese consumer electronics. b. the United States wishes to prop up...
-
Assume electricity is generated by three technologies: a base load technology with cost function C b (x b ) and proportional emission coefficient b ; gas turbines with cost function C g (x g ) and...
-
In a random sample of 60 refrigerators, the mean repair cost was $150.00. Assume the population standard deviation is $15.50. Construct a 99% confidence interval for the population mean repair cost....
-
All window components have the same attributes. True of False
-
Discuss the sampling strategy and technique to be used. Develop a hypothetical research scenario that would necessitate the use of the Action Research Approach and a Posttest With a Historical...
-
Below are balance sheet and income statement data for Blue Panel Corporation. Additional information for Blue Panel Corporation is as follows: (a) Property, plant, and equipment with an original...
-
Country A is endowed with 18 units of good x and 1 unit of good y, while country B is endowed with 2 units of good x and 7 units of good y. Both countries consume x and y in fixed and equal...
-
Peachtree Delivery Service is owned and operated by Jerome Foley. The following selected transactions were completed by Peachtree Delivery Service during February: 1. Received cash from owner as...
-
In recent years, there have been news reports that toys made in China are unsafe. When those news reports show up on CNN and Fox News, what probably happens to the demand for toys made in China? What...
-
What happened in Vernon Smiths lab? Choose the right answer: a. The price and quantity were close to equilibrium but gains from trade were far from the maximum. b. The price and quantity were far...
-
The first term in a geometric sequence is 3 and the 4th term is 81. What is the 10th term of the sequence? A. 177,147 B. 59,049 C. 19,683 D. 6,561 E. 2,187
-
FIND ANY ONE COMTEMPARY ISSUE IN THE REGULATORY SECTOR OF GHANA PUBLISHED IN THE PAPERS FROM 1957 TILL 2010 WHICH IS RECURRENT OR STILL RELEVANT TODAY. STATE 5 REASONS WHY IT IS STILL RELEVNT OR...
-
Does morality have any role to play in criminal law? Explain the relationship between morality and criminal law?
-
You want to purchase some shares of JJ Farms stock but need a rate of return of 17.5 percent to compensate for the perceived risk. What is the maximum you are willing to pay per share for this stock...
-
discuss the concept of epigenetic inheritance and provide examples of how DNA methylation, histone modifications, and non-coding RNAs influence gene expression patterns across generations?
-
You work in the pathology laboratory of a large metropolitan hospital and have been asked to assist with the screening of a biopsy sample from a patient s cancerous tumor. You discover a mutation in...
-
How many hours will a person allocate to leisure activities if her indifference curves between consumption and goods are concave to the origin?
-
The diagram shows the two forces acting on a small object. Which of the following is the resultant force on the object? A. 8 N downwards B. 8 N upwards C. 2 N downwards D. 2 N upwards 3 N 5 N
-
Research has shown that only about three out of every four customers are, on ave r age, satisfied by a firms marketing programs. Give an example of a purchase you made where you were not satisfied...
-
Distinguish between an attractive opportunity and a breakthrough opportunity. Give an example.
-
Explain how new opportunities may be seen by defining a firms markets more pr e cisely. Illustrate for a situation where you feel there is an opportunity namely, an unsatisfied ma r ket segmenteven...
-
What type of shares have no fixed face value noted on the stock certificates?
-
Consider the following one binomial option pricing involving an American call. Assume a stock price currently at RM 1 1 0 and call option with an exercise price of RM 1 1 0 and a risk - free rate of...
-
Analyze factors in the global environment that influence the need to create innovation within an organization. Assess the potential impact of the five discovery skills on an organization. Evaluate a...
Study smarter with the SolutionInn App