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QUESTION 1 In the market for breakfast cereal, the market is currently in equilibrium. Suddenly there is a storm that destroys the wheat that farmers had been growing for the cereal manufacturer.What will happen to the cereal market after the storm?a. Demand will decrease.b. Supply will increase.c. Demand will increase.d. Supply will decrease.
QUESTION 2 In the market for desk lamps, which of the following will increase demand? Select all the answer options that apply.a. If the price of desks increases and desks are a complementary goodb. An increase in income if the good is an inferior goodc. If the price of floor lamps increases and floor lamps are a substitute goodd. If the price of desks decreases and desks are a complementary good
e. An increase in income if the good is a normal good
QUESTION 3 YouA????1re an entrepreneur and had a great idea to sell shoes that have springs installed in them to make walking easier. The development costs were so high that the shoes are priced 15 times higher than shoes without springs. As a result, many of the shoes have gone unsold. What would be a possible event that could eliminate or reduce the disequilibrium in the market for shoes?a. There is a decrease in the price of rubber A????1 an input in the production of shoesb. A study reveals that shoes with a spring can increase the chance of a broken legc. There is an increase in income and A????1spring shoesA????1 are a normal goodd. There is an increase in income and A????1spring shoesA????1 are an inferior good
there have been continuous debates since the1970s when ronald reagan president of the united states declared a war on
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Art reflects society, it gives insight into the past, ideas about the future, details about history and culture. The Abolitionist Art and Literature you've read about exposes us to the voices from the past from a moment in history of which no one ..
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