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If equilibrium price is $8 for a product and the current price is set by the government at $6
The number of suppliers decreases.
Will shift to the left.
Quantity demanded is equal to quantity supplied.
The supply of wheat to increase as farmers plant more.
A shortage would exist because quantity supplied would be less than quantity demanded.
A substantial increase in the price of electricity.
A decrease in consumer income.
The amount buyers want to purchase and the amount suppliers want to sell is the same.
The supply curve will shift to the left when
The number of suppliers decreases.
Will shift to the left.
Quantity demanded is equal to quantity supplied.
The supply of wheat to increase as farmers plant more.
A shortage would exist because quantity supplied would be less than quantity demanded.
A substantial increase in the price of electricity.
A decrease in consumer income.
The amount buyers want to purchase and the amount suppliers want to sell is the same.
If the price of peanut butter increases, we can assume that the demand curve for jelly (a complement good) will
The number of suppliers decreases.
Will shift to the left.
Quantity demanded is equal to quantity supplied.
The supply of wheat to increase as farmers plant more.
A shortage would exist because quantity supplied would be less than quantity demanded.
A substantial increase in the price of electricity.
A decrease in consumer income.
The amount buyers want to purchase and the amount suppliers want to sell is the same.
The equilibrium price and equilibrium quantity are found where
The number of suppliers decreases.
Will shift to the left.
Quantity demanded is equal to quantity supplied.
The supply of wheat to increase as farmers plant more.
A shortage would exist because quantity supplied would be less than quantity demanded.
A substantial increase in the price of electricity.
A decrease in consumer income.
The amount buyers want to purchase and the amount suppliers want to sell is the same.
Everything else held constant, which of the following would be likely to shift the demand for a swing set to the left?
The number of suppliers decreases.
Will shift to the left.
Quantity demanded is equal to quantity supplied.
The supply of wheat to increase as farmers plant more.
A shortage would exist because quantity supplied would be less than quantity demanded.
A substantial increase in the price of electricity.
A decrease in consumer income.
The amount buyers want to purchase and the amount suppliers want to sell is the same.
At the point where demand and supply intersect
The number of suppliers decreases.
Will shift to the left.
Quantity demanded is equal to quantity supplied.
The supply of wheat to increase as farmers plant more.
A shortage would exist because quantity supplied would be less than quantity demanded.
A substantial increase in the price of electricity.
A decrease in consumer income.
The amount buyers want to purchase and the amount suppliers want to sell is the same.
Let's assume that the price of wheat is rising and farmers expect it to keep rising relative to other crops. We should expect
The number of suppliers decreases.
Will shift to the left.
Quantity demanded is equal to quantity supplied.
The supply of wheat to increase as farmers plant more.
A shortage would exist because quantity supplied would be less than quantity demanded.
A substantial increase in the price of electricity.
A decrease in consumer income.
The amount buyers want to purchase and the amount suppliers want to sell is the same.
Which of the following would most likely increase the demand for propane.
The number of suppliers decreases.
Will shift to the left.
Quantity demanded is equal to quantity supplied.
The supply of wheat to increase as farmers plant more.
A shortage would exist because quantity supplied would be less than quantity demanded.
A substantial increase in the price of electricity.
A decrease in consumer income.
The amount buyers want to purchase and the amount suppliers want to sell is the same.
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