Author Question: There is a technological advance in the production of digital watches. This will cause: a. demand ... (Read 80 times)

stephzh · **on:** Jun 30, 2018

There is a technological advance in the production of digital watches. This will cause:
a. demand to increase.
b. supply to increase.
c. demand to decrease.
d. supply to decrease.
e. the price to increase.

Question 2

The most plausible reason why changes in the price of cotton can cause shifts in the supply curve for tobacco is:
a. cigarette smokers often wear cotton shirts.
b. when incomes rise, people consume more cotton and tobacco.
c. firms can switch from growing tobacco to cotton and vice versa.
d. tobacco is an input in the production of cotton.
e. cotton and tobacco are unrelated markets in all ways.