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Suppose both buyers and sellers of wheat expect the price of wheat to rise in the near future. What would we expect to happen to the equilibrium price and quantity in the market for wheat today ?

Economics Mcqs, Market /
Suppose both buyers and sellers of wheat expect the price of wheat to rise in the near future. What would we expect to happen to the equilibrium price and quantity in the market for wheat today ?

A. The impact on both price and quantity is ambiguous
B. Price will decrease, quantity is ambiguous.
C. price will increase, quantity will decrease
D. price will increase, quantity is ambiguous.
E. Price will increase, quantity will increase

Suppose both buyers and sellers of wheat expect the price of wheat to rise in the near future. What would we expect to happen to the equilibrium price and quantity in the market for wheat today ? Read More »

Economics Mcqs, Market

Suppose a frost destroys much of the Florida orange crop. At the same time, suppose consumer tastes shift toward orange juice, What would we expect to happen to the equilibrium price and quantity in the market for orange juice ?

Economics Mcqs, Market /
Suppose a frost destroys much of the Florida orange crop. At the same time, suppose consumer tastes shift toward orange juice, What would we expect to happen to the equilibrium price and quantity in the market for orange juice ?

A. price will decrease, quantity is ambiguous
B. The impact on both price and quantity is ambiguous.
C. Price will increase, quantity will increase
D. price will increase, quantity will decrease
E. price will increase, quantity is ambiguous.

Suppose a frost destroys much of the Florida orange crop. At the same time, suppose consumer tastes shift toward orange juice, What would we expect to happen to the equilibrium price and quantity in the market for orange juice ? Read More »

Economics Mcqs, Market

Suppose there is an increase in the both the supply and demand for personal computers Further, suppose the supply of personal computer increase more than demand for personal computers In the market for personal computers i the market for personal computers, we would expect ?

Economics Mcqs, Market /
Suppose there is an increase in the both the supply and demand for personal computers Further, suppose the supply of personal computer increase more than demand for personal computers In the market for personal computers i the market for personal computers, we would expect ?

A. the change in the equilibrium quantity to be ambiguous and the equilibrium price to fall.
B. the equilibrium quantity to rise and the equilibrium price to rise
C. the equilibrium quantity to rise and the change in the equilibrium price to be ambiguous
D. the equilibrium quantity to rise and the equilibrium price to fall
E. the equilibrium quantity to rise and the equilibrium price to remain constant

Suppose there is an increase in the both the supply and demand for personal computers Further, suppose the supply of personal computer increase more than demand for personal computers In the market for personal computers i the market for personal computers, we would expect ? Read More »

Economics Mcqs, Market

A decrease (leftward shift) in the supply for a good will tend to cause ?

Economics Mcqs, Market /
A decrease (leftward shift) in the supply for a good will tend to cause ?

A. an increase in the equilibrium price and quantity
B. a decrease in the equilibrium price and an increase in the equilibrium quantity
C. none of these answers
D. a decrease in the equilibrium price and quantity.
E. an increase in the equilibrium price and a decrease in the equilibrium quantity

A decrease (leftward shift) in the supply for a good will tend to cause ? Read More »

Economics Mcqs, Market

If the price of good is equal to the equilibrium price ?

Economics Mcqs, Market /
If the price of good is equal to the equilibrium price ?

A. there is a shortage and the price will fall
B. the quantity demanded is equal to the quantity supplied supplied and the price remains unchanged
C. there is surplus and the price will rise
D. there is a shortage and the price will rise
E. there is a surplus and the price will fall

If the price of good is equal to the equilibrium price ? Read More »

Economics Mcqs, Market

If the price of a good is above the equilibrium price ?

Economics Mcqs, Market /
If the price of a good is above the equilibrium price ?

A. there is a surplus and the price will rise
B. there is a shortage and the price will fall
C. there is a shortage and the price will rise
D. The quantity demanded is equal to the quantity supplied and the price remains unchanged
E. there is a surplus and the price will fall

If the price of a good is above the equilibrium price ? Read More »

Economics Mcqs, Market

Which of the following shifts the demand for watches to the right ?

Economics Mcqs, Market /
Which of the following shifts the demand for watches to the right ?

A. an increase in the price of watches
B. none of these answers
C. a decrease in the price of watch batteries if watch batteries and watches are complements
D. a decrease in consumer incomes if watches are a normal good
E. a decrease in the wage of workers employed to manufacture watches

Which of the following shifts the demand for watches to the right ? Read More »

Economics Mcqs, Market

If an increase in consumer incomes leads to a decrease in the demand for camping equipment, then camping equipment is ?

Economics Mcqs, Market /
If an increase in consumer incomes leads to a decrease in the demand for camg equipment, then camg equipment is ?

A. a normal good
B. none of these answers
C. an inferior good
D. a substitute good

If an increase in consumer incomes leads to a decrease in the demand for camping equipment, then camping equipment is ? Read More »

Economics Mcqs, Market