Draw a correctly labeled graph showing the market for cups of coffee in equilibrium. On your graph, show the effect of a decrease in the price of coffee beans on the equilibrium price and the equilibrium quantity in the market for cups of coffee.

Draw a correctly labeled graph showing the SUV market in equilibrium. On your graph, show the effect on equilibrium price and quantity in the market for SUVs if the price of gasoline increases.

Periodically, a computer chip maker like Intel introduces a new chip that is faster than the previous one. In response, demand for computers using the earlier chip decreases as customers put off purchases in anticipation of machines containing the new chip. Simultaneously, computer makers increase their production of computers containing the earlier chip in order to clear out their stocks of those chips. Draw two diagrams of the market for computers containing the earlier chip:

one in which the equilibrium quantity falls in response to these event s ?

The equilibrium price will rise, but the equilibrium quantity may increase, decrease, or stay the same if A. demand increases and supply decreases. B. demand increases and supply increases. C. demand decreases and supply increases. D. demand decreases and supply decreases. E. demand increases and supply does not change.

Draw a correctly labeled graph showing equilibrium in the loanable fund s market.

Draw a correctly labeled graph showing the demand for apples. On your graph, illustrate what happens to the demand for apples if a new report from the Surgeon General finds that an apple a day really does keep the doctor away.

Draw a correctly labeled graph of the foreign exchange market showing the effect on the equilibrium exchange rate between the U.S. and Japan (the number of yen per U.S. dollar) if capital flows from Japan to the United States decrease due to a change in the preferences of Japanese investors. Has the U.S. dollar appreciated or depreciated?

Draw a correctly labeled graph of the market for taxicab rides. On the graph, draw and label a vertical line showing the level of an effective quota. Label the demand price, the supply price, and the quota rent.

Which of the following describes what will happen in the market for tomatoes if a salmonella outbreak is attributed to tainted tomatoes? A. Supply will decrease and price will increase. B. Supply will decrease and price will decrease C. Demand will decrease and price will increase D. Demand will decrease and price will decrease. E. Supply and demand will both decrease.

Which of the following will lead to an increase in the equilibrium price of product "X"? A(n) A. increase in consumer incomes if product "X" is an inferior good B. increase in the price of machinery used to produce product "X" C. technological advance in the production of good "X" D. decrease in the price of good "Y" (a substitute for good "X") E. expectation by consumers that the price of good "X" is going to fall.

If lentils are inferior and incomes decrease, we would expect:

a) An increase in equilibrium price and a decrease in equilibrium quantity.

b) A decrease in equilibrium price and an increase in equilibrium quantity.

c) A decrease in equilibrium price and equilibrium quantity.

d) An increase in equilibrium price and equilibrium quantity.

The market for coffee is initially in equilibrium with supply and demand curves of the usual shape. Pepsi is a substitute for coffee, cream is a complement to coffee. A decrease in the price of Pepsi will

A) increase the price of coffee and increase the quantity demanded of coffee.

B) increase the price of coffee and increase the quantity supplied of coffee.

C) decrease the price of coffee and decrease the quantity demanded of coffee.

D) decrease the price of coffee and decrease the quantity supplied of coffee.

E) none of the above.

Which of the following can be considered a competitive market?

A) international market for coffee beans

B) market for U.S. treasury bonds

C) market for fast food

D) market for cars

Draw a correctly labeled graph of a competitive market in equilibrium. Use your graph to illustrate the effect of an excise tax imposed on consumers. Indicate each of the following on your graph:

the tax revenue generated by the tax, labeled "Tax revenue"