Multi choice questions.
Practice: Draw a regular supply and demand model. The supply curve will have a slope of 1. The demand curve will have a slope of -1. Here's the story: The product is orange in Florida for the month of March. Great weather beneted the orange crop in Florida while at the same time a leading doctor stated that consuming oranges is terrible for your health. Draw the supply and demand model where demand shifted by a larger magnitude compared to supply. What happened to price and quantity after the shifts? 0 price decreased and quantity decreased 0 price increased and quantity decreased 0 price decreased and quantity stayed the same 0 price increased and quantity increased 0 price decreased and quantity increased 0 price stayed the same and quantity decreased Draw the scenario and answer the question. Draw a standard normal supply and demand model. The supply curve will have a slope of 1. The demand curve will have a slope of -1. Here's the scenario: The product is orange consumed in a year's time. A leading doctor states that consuming oranges will increase your health. At the same time, weather conditions for growing oranges looks very favorable for the crop. In this scenario, shift the demand curve more than the shift in the supply curve. What happened to price and quantity? 0 Price increased and quantity decreased 0 Price increased and quantity increased 0 Price decreased and quantity decreased 0 Price decreased and quantity increased Draw the scenario and answer the question. Draw a standard normal supply and demand model. The supply curve will have a slope of 1. The demand curve will have a slope of -1. Here's the scenario: The product is orange consumed in a year's time. A leading doctor states that consuming oranges will decrease your health. At the same time, weather conditions for growing oranges looks very favorable for the crop. In this scenario, shift the demand curve more than the shift in the supply curve. What happened to price and quantity? 0 Price decreased and quantity decreased 0 Price decreased and quantity increased 0 Price increased and quantity increased 0 Price increased and quantity decreased Draw the scenario and answer the question. Draw a standard normal supply and demand model. The supply curve will have a slope of 1. The demand curve will have a slope of -1. Here's the scenario: The product is orange consumed in a year's time. A leading doctor states that consuming oranges will decrease your health. At the same time, weather conditions for growing oranges looks very favorable for the crop. In this scenario, shift the supply curve more than the shift in the demand curve. What happened to price and quantity? 0 Price decreased and quantity decreased 0 Price increased and quantity decreased 0 Price decreased and quantity increased 0 Price increased and quantity increased Draw the scenario and answer the question. Draw a standard normal supply and demand model. The supply curve will have a slope of 1. The demand curve will have a slope of -1. Here's the scenario: The product is orange consumed in a year's time. A leading doctor states that consuming oranges will increase your health. At the same time, weather conditions for growing oranges looks terrible for the crop. In this scenario, shift the supply curve more than the shift in the demand curve. What happened to price and quantity? 0 Price decreased and quantity decreased 0 Price increased and quantity increased 0 Price decreased and quantity increased 0 Price increased and quantity decreased
