What would increase in demand lead to a new equilibrium?
Assuming linearity, an increase in demand of 18 units would lead to a new equilibrium at a.$4; 88 units. b.$3.50; 75 units.
What is the relationship between supply curve and economic growth?
Suppose that sales of a product depend directly on economic growth. If producers of that product expect an economic recession in the near future, there is likely to be a.a rightward shift of the supply curve.
Is the supply curve of sirloin steak upward sloping?
Assume that the supply curve of sirloin steak is upward sloping. If the price increases from $5.25 to $8.60 per pound, a.the supply of sirloin steak will rise.
What is the relationship between supply and demand in a market?
a.The interaction of demand and supply determines the price and quantity in that market. b.There must be a supply of the item but not necessarily a demand for the item. c.Demand and supply are always equal for an item.
Which of the following would increase the demand for golf balls?
The correct option is: (d) An increase in average household income when golf balls are a normal good. See full answer below.
Which of the following will not cause a change in demand?
Answer and Explanation: A change in the price of a good does not shift the demand curve.
Is there a shortage on golf balls?
Golf ball shortages become a secondary concern. At this point, there is no shortage, according to Ray Headley, director of golf at Sable Creek near Hartville, "The advice became to stock up for this season," Headley said, "and we took the advice. Our stock is good."
Which of the following will not shift the demand curve for a good?
The correct option is: b. a change in the price of the good or service.
Which of the following does not cause a demand curve to shift quizlet?
Which of the following does not cause a demand curve to shift? A change in the price of the good/service being demanded.
Why are there shortages in golf clubs?
Golf clubs and grips are in short supply due to global supply chain issues, Bloomberg reports. The shortages come at a time when golf is exploding in popularity due to the pandemic. 2020 saw the biggest net increase in golfers in 17 years, according to the National Golf Foundation.
Why is there a shortage of Surlyn?
Ahwl explained, a number of the chemicals used in the creation of the artificial Surlyn are in short supply due to the closure of the largest chemical plant in Malaysia because of a massive strike. The workers are asking for better working conditions and a rise in wages.