d. an increase in the number of potential buyers of beanbag chairs\n22. technological improvements in the…

d. an increase in the number of potential buyers of beanbag chairs\n22. technological improvements in the production of plug - in electric car batteries will lead to which shift?\na. graph c\nb. graph d\nc. graph b\nd. graph a\n23. one of the most important ingredients in bubble tea is the tapioca pearls that are added to the tea. if the price of tapioca flour increases, what will happen to the supply of bubble tea, all else being equal?\na. the supply of bubble tea will decrease.\nb. the supply of bubble tea will not change.\nc. the supply of bubble tea will increase modestly.\nd. the supply of bubble tea will increase dramatically.\n24. which factor would shift the supply curve of music turntables to the left?\na. an increase in the price of key components to manufacture turntables\nb. an increase in the number of companies manufacturing turntables\nc. an increase in the popularity of vinyl records\nd. a reduction in taxes on companies making any type of music player\n25. suppose at a price of $3, kerri is willing and able to buy three churros, tomas is willing and able to buy five churros, and pristine is willing and able to buy two churros. assuming these are the only consumers in the market, the quantity demanded at $3 is ___; if the price falls to $2, the quantity demanded is likely to ___.\na. ten; decrease\nb. eight; decrease\nc. eight; increase\nd. ten; increase\n26. in the market for chinese takeout, suppose that the price of sushi takeout, a substitute, decreases in price. what will happen to the demand for chinese takeout?

d. an increase in the number of potential buyers of beanbag chairs\n22. technological improvements in the production of plug - in electric car batteries will lead to which shift?\na. graph c\nb. graph d\nc. graph b\nd. graph a\n23. one of the most important ingredients in bubble tea is the tapioca pearls that are added to the tea. if the price of tapioca flour increases, what will happen to the supply of bubble tea, all else being equal?\na. the supply of bubble tea will decrease.\nb. the supply of bubble tea will not change.\nc. the supply of bubble tea will increase modestly.\nd. the supply of bubble tea will increase dramatically.\n24. which factor would shift the supply curve of music turntables to the left?\na. an increase in the price of key components to manufacture turntables\nb. an increase in the number of companies manufacturing turntables\nc. an increase in the popularity of vinyl records\nd. a reduction in taxes on companies making any type of music player\n25. suppose at a price of $3, kerri is willing and able to buy three churros, tomas is willing and able to buy five churros, and pristine is willing and able to buy two churros. assuming these are the only consumers in the market, the quantity demanded at $3 is ___; if the price falls to $2, the quantity demanded is likely to ___.\na. ten; decrease\nb. eight; decrease\nc. eight; increase\nd. ten; increase\n26. in the market for chinese takeout, suppose that the price of sushi takeout, a substitute, decreases in price. what will happen to the demand for chinese takeout?

Answer

Brief Explanations:

  1. Technological improvements increase supply, shifting the supply - curve to the right. Graph A shows a right - shift of the supply curve.
  2. An increase in the price of an input (tapioca flour) reduces the supply of the final good (bubble tea).
  3. An increase in the price of key components (an input) shifts the supply curve of music turntables to the left.
  4. At a price of $3, the quantity demanded is 3 + 5+2=10. According to the law of demand, when the price falls, the quantity demanded increases.
  5. When the price of a substitute (sushi takeout) decreases, the demand for the other good (Chinese takeout) decreases.

Answer:

  1. D. graph A
  2. A. The supply of bubble tea will decrease.
  3. A. an increase in the price of key components to manufacture turntables
  4. D. ten; increase
  5. The demand for Chinese takeout will decrease.