1.A decrease in the price of a good that buyers see as a complements will lead to a/an

(i.e.,What willa decrease in the price of salsa do in the market for tortilla chipsIF buyers see them as complements and like to consume them together?)

Increase in Supply, an increase in equilibrium quantity, and decrease in equilibrium price

Decrease in Supply,a decrease in equilibrium quantity,and an increase in equilibrium price

Increase in Demand, an increase in equilibrium quantity, and an increase in price

Decrease in Demand,a decrease in equilibrium quantity,and a decrease in price

2.If we are talking about "inferior goods," an increase in incomewill lead to a/an

Increase in Supply, an increase in equilibrium quantity, and decrease in equilibrium price

Decrease in Supply,a decrease in equilibrium quantity,and an increase in equilibrium price

Increase in Demand, an increase in equilibrium quantity, and an increase in price

Decrease in Demand,a decrease in equilibrium quantity,and a decrease in price

3. f we are talking about "normal goods," a decrease in incomewill lead to a/an

Increase in Supply, an increase in equilibrium quantity, and decrease in equilibrium price

Decrease in Supply,a decrease in equilibrium quantity,and an increase in equilibrium price

Increase in Demand, an increase in equilibrium quantity, and an increase in price

Decrease in Demand,a decrease in equilibrium quantity,and a decrease in price

4.If we are talking about "inferior goods," a decrease in incomewill lead to a/an

Increase in Supply, an increase in equilibrium quantity, and decrease in equilibrium price

Decrease in Supply,a decrease in equilibrium quantity,and an increase in equilibrium price

Increase in Demand, an increase in equilibrium quantity, and an increase in price

Decrease in Demand,a decrease in equilibrium quantity,and a decrease in price

5.A decrease in input costs will lead to a/an

Increase in Supply, an increase in equilibrium quantity, and decrease in equilibrium price

Decrease in Supply,a decrease in equilibrium quantity,and an increase in equilibrium price

Increase in Demand, an increase in equilibrium quantity, and an increase in price

Decrease in Demand,a decrease in equilibrium quantity,and a decrease in price

6.If when we increase the price of a product by 10%, the percentage change in quantity demanded is -20%,which is true?

Price elasticity of demand will be-1/2.A1%increase in price will lead to a1/2%drop in quantity demanded.Demand is Inelastic.

Price elasticity of demand will be-2.A1%increase in price will lead to a2%drop in quantity demanded.Demand is Inelastic.

Price elasticity of demand will be-1/2.A1%increase in price will lead to a1/2%drop in quantity demanded.Demand is Elastic.

Price elasticity of demand will be -2.A1% increase in price will lead to a 2% drop in quantity demanded.Demand is Elastic.