Let's examine the market for the hoverboards. Now let's say that hoverboards have now been reported to blow up and catch people's feet on fire.

How will this affect the equilibrium price and quantity for hoverboards?

Question 13 options:

a.P dec., Q dec.

b.P inc., Q dec.

c.P dec., Q inc.

d.P inc., Q inc.

Question 14(2 points)

Let's examine the market for cars. If the metal used for the cars become more expensive due to tariffs, how will this affect the equilibrium price and quantity?

Question 14 options:

a.P. dec., Q. inc.

b.P. dec., Q. dec.

c.P. inc., Q. dec.

d.P. inc., Q. inc.

Question 15(1 point)

If your income increases, your demand for an inferior good, such as cheap beer, will...

Question 15 options:

a.Stay the same

b.Decrease

c.Not enough information provided

d.Increase

Question 16(1 point)

The current trend is wearing muddy jeans. If you are a follower and your taste is determined by fads, then your demand for muddy jeans will

Question 16 options:

a.Decrease

b.Not enough information

c.Stay the same

d.Increase

Question 17(1 point)

If the price for raw beef has increased, we can expect the supply of hamburgers to....

Question 17 options:

a.Increase

b.Stay the same

c.Not enough information

d.Decrease

Question 18(1 point)

If there are a low number of sellers in the trashcan market, we can expect the supply of trashcans to...

Question 18 options:

a.Decrease

b.Stay the same

c.Not enough information

d.Increase