Suppose that the price of fertilizer, an input in the production of com. rises.
ID: 469256 • Letter: S
Question
Suppose that the price of fertilizer, an input in the production of com. rises. We would predict that the equilibrium quantity of com will and the equilibrium price of com will increase; increase; decrease; increase decrease; decrease Suppose that a technological advancement substantially reduces the cost of producing chess. We would predict that the equilibrium quantity of chicly will and the equilibrium price of cheese rise; rise; fall. fall; rise fall Suppose that in October the knee of a cup of cafe latte was S1 50 and 400 lattes were consumed In November the knee of a lane was S2.00 and 200 lanes were consumed. What might have caused this change? The price of tea (a substitute for cafe lattes) fell. The price of tea (a substitute for cafe lattes) rose. The price of coffee beans (an input of production of cafe lanes) rose. The price of coffee beans (an input of production of cafe lattes) fell. Suppose that in 2006, 8 million cars van purchased at SI5.000 each, while in 2007. 10 mill.cn cars were purchased at S12.000 each. What might have caused this change? The knee of airplane tickets (a substitute for cars) fell. The price of airplane tickets (a subs1itic for cars) rose. There was an advance in automobile manufacturing technology. There were fewer workers in automobile manufacturingExplanation / Answer
A 24 ) Option C: Decrease, Increase.
Explanation : since the input increases , its impact will be on the quantity will also decreases and the price increases.
A 25 ) Option B : Rise and fall
Price will fall, quantity may increase.
Explanation: since the production price is reduced , its impact will be on the quantity will also increases and the price in production decreases.
A 26 ) Option C : input of coffee bean rose
Explanation : The input bean , cost is increased , the final product also increases in it price, this may have cause the increase in price and decrease in the consumption.
A 27 ) Option C : advance in technology in manufacturing industry.
Explanation : Since technology decrease the cost in manufacturing of the car . The overall price of the car is decreased, leading to more number of sales .
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