Sunday
April 20, 2014

Homework Help: Economics

Posted by Trying on Saturday, July 4, 2009 at 5:45pm.

1.Which of the following is consistent with the law of supply?
a.As the price of calculators rises, the supply of calculators increases, ceteris paribus.
b.As the price of calculators falls, the supply of calculators increases, ceteris paribus.
c.As the price of calculators rises, the quantity supplied of calculators increases, ceteris paribus.
d.As the price of calculators rises, the quantity supplied of calculators decreases, ceteris paribus.

2. DVDs and DVD Players are complements. An increase in the price of DVD Players would cause which of the following in the market for DVDs?
a.The equilibrium price and quantity of DVDs would increase.
b.The equilibrium price and quantity of DVDs would decrease.
c.The equilibrium price of DVDs would increase and the equilibrium quantity would decrease.
d.The equilibrium price of DVDs would decrease and the equilibrium quantity would increase.

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