Author Question: If the tea harvest is bad in a particular year, the supply of tea will a. decrease, its price will ... (Read 35 times)

Brittanyd9008

  • Hero Member
  • *****
  • Posts: 500
If the tea harvest is bad in a particular year, the supply of tea will
 a. decrease, its price will decrease, and the quantity demanded of coffee will increase
  b. decrease, its price will increase, and the quantity demanded of coffee will increase
  c. decrease, its price will increase, and the quantity demanded of coffee will decrease
  d. decrease, its price will decrease, and the quantity demanded of coffee will decrease
  e. increase, its price will increase, and the quantity demanded of coffee will increase

Question 2

The market for chewing gum is competitive with a current price of 50 cents per pack and quantity of 100,000 packs. Which of the following events would lead to a new equilibrium price of 40 cents and quantity of 80,000 packs?
 a. an increase in the price of other kinds of candy
  b. an increase in the price of the ingredients used to make chewing gum
  c. a decrease in the number of young people in the population
  d. an agreement by workers in the chewing gum industry to work for lower wages
  e. an improvement in chewing gum production technology



Brenm

  • Sr. Member
  • ****
  • Posts: 359
Answer to Question 1

C

Answer to Question 2

C



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

For a complete list of videos, visit our video library