Answered step by step
Verified Expert Solution
Question
1 Approved Answer
True or False 1. If the owner of a co'ee shop charges a price for a cappuccino that is below that market equilibrium price, the
True or False 1. If the owner of a co'ee shop charges a price for a cappuccino that is below that market equilibrium price, the owner will notice that more people are willing and able to buy cappuccinos than she is willing and able to sell. 2. If the demand for seeing movies increases and the supply of movies is constant, we would expect the price of a movie ticket to decrease. 3. If there is a shortage of4 prom tickets and the quantityr demanded is 225 tickets, the quantity supplied must equal 265 tickets. 4. If the supply of a good increases by more than its demand increases, the equilibrium price will rise. 5. If the demand for a good increases more than the supply of the good increases, then the price of the good will increase. 6. Ifthe price ofa good is $10, the quantity demanded is l units, andthe quantity supplied is 130 units, then the equilibrium price for the good is greater than $10- 1". A shortage exists when quantityr supplied is greater than quantity demanded. B. If candy bars sell for $5 each in l'vliami, and $2 each in Tulsa, then supplies of candy bars will move om Tulsa to IMiami 9. The higher the demand for positions on a sports team relative to the supply of positions, the better chance you have to get. on the team
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started