1. A - no
2. D - no
3. A - no
working on homework & stuck on these three questions. Someone please check if I answered these correctly; Thank you!
1. In the event of excess supply in the coffee market __________.
A. the price of coffee will increase
B. the price of coffee will decrease
C. the supply of coffee will decrease (supply will shift to the left. to meet the demand
D. the demand for coffee will increase (demand will shift to the right. to meet the supply
---My answer "A"---
2. A change in quantity supplied of a product is the result of a change in __________.
A. consumer income
B. the state of production technology
C. the cost of producing the product
D. the price of the product
--- My answer "D"---
3. The big tradeoff is the tradeoff between __________.
A. quantity demanded and quantity supplied
B. price and quantity demanded
C. efficiency and equity
D. total surplus and deadweight loss
---my answer is "A"---
5 answers
can you let me know if I'm on the right path...
1. if it's not A; has to be "D"
2.the only other answer that would make sense is "C"
3. a tradeoff is the balance achieved between two desirable but incompatible features. .. so it's "D"
1. if it's not A; has to be "D"
2.the only other answer that would make sense is "C"
3. a tradeoff is the balance achieved between two desirable but incompatible features. .. so it's "D"
1 is neither A nor D.
2. I'm not sure
3. I don't think so.
Please study your text materials carefully.
2. I'm not sure
3. I don't think so.
Please study your text materials carefully.
So now I understand #1. the excess supply occurs when the quantity supplied exceeds the quantity demanded, meaning that producers are willing to sell more than consumers are willing to buy. This causes the price of coffee to fall as firms out the price to sell the coffee.
Correct.