A new taco-making machinery which is similar in size

Assignment Help Macroeconomics

Reference no: EM1338089

Shift in the demand curve

1. A new taco-making machine that is similar in size and cost to hog dog carts has encouraged more street vendors to begin selling tacos. What SHORT RUN impact do you think this might have on the market for hot dogs?

A decrease in the demand for hot dogs
B. increase in the demand for hot dogs
C. decrease in the supply of hot dogs
D. increase in the supply of hot dogs

2. Which of the following statements is NOT true?

A. an increase in demand causes equilibrium price and quantity to rise
B. a decrease in demand causes equilibrium price and quantity to fall
C. an increase in supply causes equilibrium price and quantity to rise
D. a decrease in supply causes equilibrium price and quantity to fall

3. In the short run, change in the equilibrium price will

A. always lead to inflation
B. cause a shift in the demand curve
C cause a shift in the supply curve
D cause a change in the quantity demanded or supplied

4. Suppose demand is expressed as Qd = 300 - 50P. If we want to make this equation consistent with the typical supply and demand diagram, this equation must be stated as:

A. P = 300 - 50Q
B. P = 6 - .02Q
C. P = 50 - 300Q
D. Q = 6 - .02P

5. Which of the following refers to a shift in the demand curve?

A. "this new advertising campaign should really increase our demand."
B. "let's drop our price to increase our demand."
C. "we dare not raise our price because our demand will drop."
D. "if new sellers enter the market, the demand for the product is bound to increase."

Reference no: EM1338089

Questions Cloud

The repayment of the bank loan : Explain what operating sources provide the cash for the repayment of the bank loan.

Assume the normal production process for beet sugar : Assume the normal production process for beet sugar uses high-sulfur oil for fuel and releases 2 units of sulfur dioxide to the air for every ton of beet sugar produced.

Who know good technical knowledge of the project field : suppose that there is some consensus with the basic premise that most skills can be learnt, which would you expect to be the more productive task, if re-skilling Project Managers.

Role of cosmic occurrences : Pick at least two creation myths from two different cultures. For ideas, refer to this week's readings. These should be specific stories such as "Out of the Blue" or "Genesis" from Myth and Knowing, or any of the stories assigned from the World My..

A new taco-making machinery which is similar in size : A new taco-making machinery which is similar in size and cost to hog dog carts has encouraged more street vendors to begin selling tacos.

Explain speak to your skills and accomplishments : Explain speak to your skills and accomplishments and What should you like to know about yourself or showcase to others in the letters of referral you are collecting

A mode of entry strategy : What are some advantages large companies have over smaller companies when selecting a mode of entry strategy?

Generic benchmarking worksheet : This Generic Benchmarking Worksheet includes 2 examples of each major section of the assignment:

Put policy on automatic pilot and needs that monetary policy : Suppose that, as the chair of the Fed, you decide to "put policy on automatic pilot" and needs that monetary policy follow an established rule.

User Account

All Pages