Supply and Demand An important mineral in electric vehicles is lithium. This means that in the 1 point past 10 years there has been... (choose all that apply) D An increase in demand for lithium D An increase in the supply of lithium D An increase in demand for miners D An increase in price of lithium The US imposes a tariff on Canadian Steel (choose 2) 1 point D The US demand for Canadian Steel increases D The US demand for Canadian Steel decreases D The US demand for domestic steel increases D The US demand for domestic steel decreases How do companies quickly sell surplus product? 1 point 0 Produce less O Increase Price 0 Decrease Price 0 Produce more Which of the following products would most likely have an inelastic 1 point demand? 0 Chocolate 0 Gas 0 Concert Tickets 0 Nintendo Switch What does this graph tell us about supply? 1 point S Price 40 30 15 16 Quantity www.economicshelp.org O elastic supply O inelastic supply O Shortage O SurplusWhen price increases the amount of goods produced increases. This is 1 point what? 0 The Law of Supply 0 The Law of Demand The price decreases for hotdogs -- (choose 2) 1 point I: the demand for ketchup decreases I: the demand for ketchup increases I: the demand for burgers increase D the demand for burgers decreases What does this graph tell us about demand? 1 point Pl Price P2 Demand Q1 Q2 Quantity O Elastic Demand O Inelastic Demand O Shortage O Surplus The movement along the demand curve is called what? 1 point Change in Technology Change in Quanitity Demanded Change in Quantity Supplied Change in PopulationThe price for coffee increases (choose 2) 1 point the demand for coffee decreases the demand for coffee increases the supply of coffee descreases the supply of coffee increases