Gm545 Quiz 1

Grading Summary / Quiz 1 PLEASE regularise ANSWERS IN YOUR OWN WORDS!!!!!!!!!!!!!!!!!!!!!!!!| Grade Details - completely forefronts | 1.| call into question :| (TCO A) There is a swop magnitude in the equal of sweat for producing oscillations. (4 pts.) What happens to bicycle affix? (6 pts.) What happens to bicycle pick up?| | | fix manage| Since a change in be to produce the growth is a supply factor, a decrease in cost would be expected to increase bicycle supply. Remember that supply is a schedule of how many units suppliers ar willing to brook at different legal injurys. When cost fall, the supply curve increases or shifts to the right. Since changes in producer costs is not a engage factor, there would be no impact on exact.| | | | Points standard:| 10 of 10 | | Comments:| | | | 2.| Question :| (TCO A) Ceteris paribus, cocoa grass X and coffee scratch A are substitutes in consumption. The price of coffee patsy X l ocomote. (4 pts.) a. What happens to the demand for coffee Brand A? (6 pts.) b. What happens to the demand for coffee Brand X?| | | emend Answer| a. When the price of a substitute good falls, the demand for the other good falls. wrong of Brand X falls -- demand for Brand A falls or decreases. b.

This tests your great power to distinguish between a change in demand and a change in quantity demanded. When the price of Brand X falls THERE IS NO EFFECT ON THE DEMAND for Brand X. Price of the good itself is NOT a Determinant of Demand. | | | | Points authorized:| 0 of 10 | | | 3.| Question :| (TCO A) T he way out of give producers increases. ! (4 pts.) What happens to the supply of corn? (6 pts.) What happens to the demand for corn?| | | Correct root| The supply of corn would increase, or shift to the right. The lean of suppliers is evidently a supply factor, so the more suppliers thare are, the larger would be the supply. The demand for corn remains the same as beforehand because the number...If you want to get a full essay, magnitude it on our website: OrderCustomPaper.com

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