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Answer 1 :- Option 'b' is the correct Answer The law of demand also means, holding whatever else continuous, that as the price of yogurt boosts, the quantity of yogurt demanded will certainly decrease. According to law of demand also as the price of an excellent or servi…View the complete answer
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Transcribed photo text: Chapter 3 1) The law of demand also means, holding everything else continuous, that as the price of yogurt A) boosts, the demand also for yogurt will increase. B) rises, the amount of yogurt demanded will decrease. C) decreases, the amount of yogurt demanded will decrease. D) decreases, the demand for yogurt will increase 2) Holding every little thing else constant, an increase in the price of raisins A) a decrease in the amount of raisins demanded. B) an increase in the demand for raisins. C) a decrease in the supply of raisins. D) an increase in the amount of raisins demanded. 3) If a rise in income leads to an increase in the demand for sushi, then sushi is A) a normal excellent. B) a neutral excellent. C) a match. D) a requirement. 4) Suppose that as soon as the price of hamburgers boosts, the Ruiz household increases their purchases of hot dogs. To the Ruiz household A) hamburgers and also hot dogs are complements. B) hamburgers and hot dogs are inferior goods. C) hamburgers and warm dogs are normal goods. D) hamburgers and warm dogs are substitutes. 5) If in the market for apples the supply has actually decreased, then A) the supply curve for apples has actually shifted to the appropriate. B) tright here has actually been a activity upwards along the supply curve for apples. C) the supply curve for apples has shifted to the left. D) there has actually been a movement downwards alengthy the supply curve for apples. 6) A decrease in the price of pork will certainly lead to A) a smaller sized amount of pork gave. B) a larger amount of pork gave. C) a decrease in the demand for pork. D) an increase in the supply of pork. Figure 3-4 Price $25.00 20.00 15.00 10.00 400 00 00 00 00 7) Refer to Figure 3-4. If the price is $25 A) tbelow is a surplus of 300 devices. B) there is a shortage of 300 systems. C) there is a surplus of 200 devices. D) there is a shortage of 200 systems. Figure 3-6 Price 0 10 20 50 75 100 Quantity 8) Refer to Figure 3-6. The number over represents the market for coffee grinders. Assume that the market price is $21. Which of the following statement is true? A) Tright here is a shortage that will cause the price to increase; quantity demanded will then decrease and also amount offered will rise until the price amounts to $25. B) Tright here is a shortage that will cause the price to increase; quantity gave will then decrease and quantity demanded will increase until the price amounts to $25. C) Tright here will certainly be a shortage that will certainly cause the price to increase; demand also will certainly then decrease and supply will certainly increase until the price amounts to $25. D) Tright here is a shortage that will certainly cause the price to decrease: amount demanded will then increase and amount supplied will decrease till the price equals $25.