146. If the price of mozzarella cheese declines due to a major technological bre

Question

146. If the price of mozzarella cheese declines due to a major technological break through in the dairy industry, there would be: C?
a) a decrease in the supply of pizza. b) an increase in the supply of pizza. c) an increase in the quantity
of pizza supplied. d) no change in the supply of pizza.

169. In a competitive market, hwen price is below the equilibrium price, there will be pressure for the price to:
c?
a) fall. b) stay the same. c) rise. d) change only if demand and or supply change.

175. Given that milk and cookies are complements, suppose the price of flour rises. What happens in the
market for cookies?
a) the equilibrium price and quantity rise. b)the equilibrium price rises and the equilibrium quntity falls.
c) the equilibrium pice and quantity fall. d) the equilibrium price falls, and the equilibrium quantity rises.

Explanation / Answer

146. a) a decrease in the supply of pizza 169. c) rise 175. a) the equilibrium price and quantity rise

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