Hey! there ,i have the correct answers to the question below all that i require is you to provide detailed explanation of the answers ,failure to do ithis it will be of no use to me.

1. The market for cheese is currently in equilibrium. If the demand for cheese increases, what will happen to

the market price and quantity of cheese?

MARKET PRICE MARKET QUANTITY

(A) Decreases decreases

(B) Decreases increases

(C) Increases remains constant

(D) Increases increases

(E) Increases decreases

92. The market for gasoline is currently in equilibrium. If the demand for gasoline decreases, what will happen

to the market price and quantity of gasoline?

MARKET PRICE MARKET QUANTITY

(A) Decreases decreases

(B) Decreases increases

(C) Increases remains constant

(D) Increases increases

(E) Increases decreases

93. You are told that the market price of coffee has increased and more coffee is being purchased in the

market. Of the following choices, which is the most likely cause of these changes in the coffee market?

(A) Supply of coffee increased

(B) Demand for coffee increased

(C) Demand for coffee decreased

(D) Supply of coffee decreased

(E) The demand for coffee and the supply of coffee both decreased.

94. You are told that the market price of steel has decreased and less steel is being purchased in the market. Of

the following choices, which is the most likely cause of these changes in the steel market?

(A) Supply of steel increased.

(B) Demand for steel increased.

(C) Demand for steel decreased.

(D) Supply of steel decreased.

(E) The demand for steel and the supply of steel both decreased.

95. You are told that the market price of applesauce has decreased and more applesauce is being sold in the market. Of the following choices, which is the most likely cause of these changes in the applesauce market?

(A) Supply of applesauce increased.

(B) Demand for applesauce increased.

(C) Demand for applesauce decreased.

(D) Supply of applesauce decreased.

(E) The demand for applesauce and the supply of applesauce both decreased.

96. You are told that the market price of milk has increased and less milk is being purchased in the market. Of

the following choices, which is the most likely cause of these changes in the milk market?

(A) Supply of milk increased.

(B) Demand for milk increased.

(C) Demand for milk decreased.

(D) Supply of milk decreased.

(E) The demand for milk and the supply of milk both increased.

97. The market for wine is currently in equilibrium. If the supply of wine increases, what will happen to the

market price and quantity of wine?

MARKET PRICE MARKET QUANTITY

(A) Decreases decreases

(B) Decreases increases

(C) Increases remains constant

(D) Increases increases

(E) Increases decreases

98. The market for rental housing is currently in equilibrium. If the demand for rental housing increases and the

supply of rental housing also increases, what will happen to the market price and quantity of rental

housing?

MARKET PRICE MARKET QUANTITY

(A) Uncertain change decreases

(B) Decreases uncertain change

(C) Increases uncertain change

(D) Uncertain change increases

(E) Increases increases

99. The market for lumber is currently in equilibrium. If the demand for lumber decreases and the supply of

lumber increases, what will happen to the market price and quantity of lumber?

MARKET PRICE MARKET QUANTITY

(A) Uncertain change decreases

(B) Decreases uncertain change

(C) Increases uncertain change

(D) Uncertain change increases

(E) Increases increases

100.You are informed that the demand for a good has increased and the supply of that good has decreased. You

know that the market price must have ___________, while the market quantity could have ____________ if

the change in demand was ____________ than the change in supply.

(A) Decreased; increased; greater

(B) Increased; increased; less

(C) Increased; increased; greater

(D) Decreased; increased; less

(E) Increased; decreased; greater