Match 5 - 12 with \"a\" - \"f\" to express how you predict the direction (increa
ID: 1132640 • Letter: M
Question
Match 5 - 12 with "a" - "f" to express how you predict the direction (increase or decrease) of change for supply, demand, quantity demanded, or quantity supplied for each of the capitalized products rises f. Quantity supplied rises 5. Researches report that Mushrooms have the potential to protect against cancer 6. Price of Ghirardelli Dark Chocolate Candy falls. 7. A new technology reduces the time it takes to manufacture Drones 8. The number of firms producing Bluetooth Speakers falls 9. Income of consumers of Veterinarian Services rises 10. Wages paid to workers who are employed to produce 3D Printers rise 11. Price of color ink cartridges, a complementary good for Photo Paper, rises 12. Price of ghirardelli dark chocolate candy, a substitute for Lindt Lindor Dark Chocolate Candy, fallsExplanation / Answer
Ans5) a. Demand rises. Because mushrooms have health benefits, now more people will demand ir so the demand increases.
Ans6) e. Quantity demanded rises. Law of demand states the decrease in price leads to increase in quantity demanded.
Ans7) b. Supply rises. Due to the new technology, production increases so the supply rises.
Ans8) d. Supply falls. Now less firms are producing speakers so the output is less meaning supply falls.
Ans9) a.demand rises. Increase in price will increase the purchasing power of consumers so people will demand more so demand rises.
Ans10) d. supply falls. Since wage rose, the cost of production has increased so less output will be produced so supply falls.
Ans11) c. Demand falls. The increase in price of a complementary good will decrease the demand for the good.
Ans12) c. Demand falls. The fall in the price of substitute good decreases the demand of the good.