None Which of the following factors would cause a shift in the supply curve for a product? A) Change in consumer preferencesB) Change in the prices of related goods C) Change in technology used in production D) Change in consumer income

A) Change in consumer preferences: This would typically affect demand rather than supply. If…

Answered: Which of the following factors would…

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter3: Market Demand And Supply

Section: Chapter Questions

Problem 2SQ: Which of the following would not cause market demand for a normal good to decline? a. An increase in...

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Similar questions

Which of the following would not cause market demand for a normal good to decline? a. An increase in the price of a substitute b. An increase in the price of a complement c. A decline in consumer income d. Consumer expectations that the good will go on sale in the near future e. An announcement by the Surgeon General that the product contributes to premature death
Evaluate the behavior of consumers in terms of the demand for products
Which of the following will not cause a good’s entire demand curve to shift? Group of answer choices: (A) A change in consumers' income. (B) A change in consumers' tastes or desires for the good. (C) A change in the availability and price of substitute goods. (D) A change in consumers' expectations. (E) A change in the current price of the good.
Identify a product or service for which you use on a regular basis. Discuss the product/service in terms of the Law of Demand from your perspective as the customer and consumer of the item. How does price impact your quantity demanded? In other words, what is your change in quantity demanded as a result in an increase or decrease in the product’s price? What are some shift factors of demand (anything other than price) that can adjust your overall demand for the product?
When economists say the demand for a product has increased, they mean the demand curve has shifted to the right. price of the product has fallen, and consequently, consumers are buying more of it. cost of producing the product has risen. amount of the product that consumers are willing to purchase at various prices has decreased.
Relationship between changes in price and corresponding changes in quantity that consumers will demand is
Which of the following shifts the supply curve for oranges? A) an increase in the number of orange consumers B) disastrous weather that destroys about half of this year's orange crop C) an increase in income for all orange consumers if oranges are a normal good D) a newly discovered increase in the nutritional value of oranges
For a particular good, 10% increase in price causes a 5% decrease in quantity demanded. Which of the following statements is most likely applicable to this good? a. The good is a luxury b. The market for the good is broadly defined c. there are many close substitutes for this good d. The relevant time horizon is long
Which of the following does NOT increase the supply of personal computers, that is, does NOT shift the supply curve of personal computers? A) a change in the expected future price of a personal computer B) an advance in the technology used to produce personal computers C) a fall in the cost of the components used to assemble personal computers D) an increase in the number of firms producing personal computer E) a rise the price of a personal computer
The demand for product M is NOT changed by which of the following? (Consider the Change in Demand vs Change in Quantity Demanded) Multiple Choice A change in consumer tastes A change in the price of M A change in the price of close-substitute product J An increase in consumer incomes

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Which of the following factors would cause a shift in the supply curve for a product? A) Change in consumer preferences B) Change in the prices of related goods C) Change in technology used in production D) Change in consumer income