Refer to the diagrma. A price of $20 in this market will result in: O equilibrium. 0 a shortage of 50 units. O a surplus of 50 units. 0 a shortage of 100 units. Since 1930, there has been a dramatic increase in the number of working mothers. Based on this information, the market for child care services has experienced O a decrease in demand. 0 a decrease in quantity supplied. 0 an increase in quantity demanded. 0 an increase in demand. 0 an increase in supply. The market for coffee is initially in equilibrium. Pepsi is a substitute for coffee; cream is a complement of coffee. Consider the market for coffee. Assume that all ceteris paribus assumptions continue to hold except for the event listed. If coffee is a normal good, then a decrease in income will 0 increase the price and the quantity demanded of coffee. 0 increase the price and the quantity supplied of coffee. 0 decrease the price and the quantity demanded of coffee. 0 decrease the price and the quantity supplied of coffee. 0 have no effect on the market for coffee. QUESTION 21 Given a downward-sloping demand curve and an upward-sloping supply cuwe for a product, a technological innovation in making the product will: 0 decrease equilibrium price and increase equilibrium quantity 0 increase equilibrium price and decrease equilibrium quantity 0 increase equilibrium price and quantity 0 decrease equilibrium price and quantity 0 keep equilibrium price and quantity the same QUESTION 22 Given a downward-sloping demand curve and an upward-sloping supply curve for a product, an increase in resource prices will: 0 decrease equilibrium price and increase equilibrium quantity 0 increase equilibrium price and quantity 0 increase equilibrium price and decrease equilibrium quantity 0 keep equilibrium price and quantity the same 0 decrease equilibrium price and quantity