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The accompanying table gives the relationship between the price of custard pies and the number of pies Jacob buys per week. Click the icon to view the table. N a. Is the relationship between the price of pies and the number of pies Jacob buys a positive relationship or a negative relationship? 6- O A. Positive relationship O B. Negative relationship Price (dollars per pie ) A - X Table N Price ($ per pie) Quantity of pies Week $3.00 July 2 8 10 2.00 July 9 Quantity (pies per week) 5.00 July 16 6.00 July 23 1.00 July 30 4.00 August 6Suppose that the curves in the gure to the right represent two supply curves for traditional Wings (basket of six) at Buffalo Wild Wings The movement from point A to B an S1 is caused by O A. a decrease in the price of baskets of traditional Wings, 0 B. an increase in the price of baskets of traditional Wings O C. an increase In the prices of substitutes in preduction, Price (dollars per basket of traditional Wings) Quantity (baskets of traditional wings) 31 99 E On the diagram to the right, a movement from B to C represents a O A. change in supply. O B. decrease in supply. O C. change in quantity supplied. 52 O D. movement down the supply curve. B C Price (dollars per units) A . . . . . Quantity (millions of units per month)Which of the following events would cause the supply curve to decrease from S, to S2? O A. An increase in the number of firms in the market. 52 O B. An increase in the price of inputs. O C. A decrease in the price of inputs. 53 O D. Lower expected future prices. Price QuantityWhen economists speak of a shortage, they mean a situation in which O A. the market price is below the equilibrium price. O B. the quantity demanded exceeds quantity supplied. O C. some consumers are unable to make a purchase at the current price. O D. all of the above. O E. A and B only.If the market price 'Pmkt' is equal to the price 'PU'. then quantity supplied is equal to less than greater than V quantity demanded and the market is in V . equilibrium surplus shortage Demand Quantity (per week) Consider the market for gasoline, illustrated in the figure to the right. 5.00- The equilibrium quantity of gasoline is | million gallons (enter a numeric response using a real number rounded to two decimal IS places) 4.50- 4.00- 3.50 - 3.00 - Price of Gasoline (per gallon) 2.0 1.50 - 1.00- D 0.50- . . .. . 0.00- 3.5 7 10.5 14 17.5 21 24.5 28 31.5 35 Quantity of Gasoline (gallons in millions)The accompanying table gives information on the quantity of lemonade demanded on sunny and overcast days. Click the icon to view the table 1.00- Use the multipoint line drawing tool to draw a straight line through the price-quantity combinations for overcast days and a straight line through the price-quantity combinations for sunny days. Properly label each line. 0.80- Carefully follow the instructions above, and only draw the required objects. 0.60- Price (dollars per glass) - X Table 0.40- Price Quantity 0.20- (dollars/glass) (glasses/day) Weather $0.80 50 Sunny $0.80 30 Overcast 0.00- 10 20 30 40 50 60 70 80 90 100 $0.70 70 Sunny Quantity (glasses per day) $0.70 40 Overcast After plotting the final point of your multipoint curve, press the Esc key on your keyboard to end the line. $0.60 80 Sunny $0.60 50 Overcast $0.50 90 Sunny $0.50 60 OvercastSuppose an inverse demand curve has the following equation: P =3 -0.0025Q. 5.00- & Use the line drawing tool to graph the demand curve in the figure. Make sure to extend the line from the vertical axis to the 4.50- horizontal axis. Attach the provided label 4.00- Carefully follow the instructions above, and only draw the required object. 3.50- 3.00- Price ($ per unit) 2.50- 2.00- 1.50- 1.00- 0.50- 0.00- 0 400 800 1,200 1,600 2,000 Quantity1.) Use the line drawing tool to draw the equation Y = 2 + 1.50X. Label your line 'A'. 20- 2.) Use the line drawing tool to draw the equation Y = 16 - 1.50X. Label your line 'B'. 3.) Use the point drawing tool to indicate the point where both equations are equal. Label this point 'Equilibrium'. 16 - Carefully follow the instructions above, and only draw the required objects. 12- Price P = f(Q) . . . .. N O- 0 2 6 8 10 12 14 16 18 20 Quantity (Q)Pepsi and Coke are considered to be substitute goods. Demand for Coke Use the line drawing tool to show how an increase in the price of Pepsi affects the demand for Coke. Label this new line 'D2' Carefully follow the instructions above, and only draw the required objects. Price D1 Quantity demanded (per week)State whether each of the following events will result in a movement along the demand curve [or McDonald's Big Mac hamburgers or whether it will cause the curve to shift. The price of Burger King's Whopper hamburger declines' This will cause 0 A. demand for McDonald's Big Mac hamburgers to decrease. O B. demand for McDonald's Big Mac hamburgers to increase. 0 C. a movement along the demand curve for McDonald's Big Mac hamburgers. Imagine that the curves shown in the accompanying figure represent two demand curves for traditional wings (basket of six) at Buffalo Wild Wings. The movement from point A to B on D, is caused by O A. an increase in the number of buyers. O B. a decrease in the price of baskets of traditional wings. A O C. an increase in the price of baskets of traditional wings. Price (dollars per basket of traditional wings) B DO D1 O Quantity (baskets of traditional wings)After World War II in 1945, the United States experienced a "baby boom" as birthrates rose and remained high through the early 1960s. In 2011, the first members of the baby boom generation became older than 65. What effect will this have on the market for nurses? As the first baby boomers become older than 65, the A. demand curve for nurses will shift to the right. O B. supply curve for nurses will shift to the right. O C. quantity of nurses demanded will increase. D. demand curve for nurses will shift to the left. O E. demand curve for nurses will become vertical.Below are four supply curve diagrams, each of which represents a change in supply or a change in quantity supplied. B Price B Price Price Price Quantity Supplied Quantity Supplied Quantity Supplied Quantity Supplied 2 3 4 Match each scenario with the appropriate diagram. a. To take advantage of high prices for snow shovels during a snowy winter, Alexander Shovels, Inc., decides to increase output. 2 4