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25 Aug 2018

6 - When the price of Washington apples increases, which of the following change is most unlikely, if all the other factors remain?

Quantity demanded of Washington apples decreases.

Demand on Fuji apples increases.

Supply on apple juice increases.

Quantity supplied of Washington apple increases.

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25 Aug 2018

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Related questions

Which of the following is the best example of an automatic stabilizer.

a. Joe buys fewer apples and more oranges due to an increase in the price of apples.

b. Joe buys more apples when his income increases.

c. Joe buys an apple slicer when the price of apples decreases

d. Joe buys less sugar as a result of an increase in the price of apples  

the individual supplies of apples from three apple orchards are 460, 580, and 700 apples respectively, when the equilibrium price of an apple is $0.75. Identify the correct statement from the following.

a) The market supply at $0.75 is 1,540 apples

b)The market demand at $0.75 is 1,740 apples

c) If the price rises above $0.75, there will be an excess demand for apples in the market

d) if the price rises above $0.75, the market supply will be lower than 1,740 apples

1. If there has been a 10% increase in Consumer income between two periods, what was the percentage change in demand for foreign travel? For tobacco products? For flour? (Hint use the income elasticity values in Table 4-4.)


2. Agricultural commodities are known to have a price-inelastic demand and to be necessities. How can this information allow you to explain why the income of farmersfalls (a) after a good harvest? (b) In relation to the incomes in other sectors of the economy?


3. Suppose that the cross-price elasticity of demand between McIntosh and Golden Delicious apples is 0.8, between apple and apple juice is 0.5, between apples and cheese is 0.4, and between apples and beer is 0.1 What can you say about the relationship between each set of commodities?


4. (a) If price of pork increases by 10 percent, by how much does demand for beef change? (b) If price of pork increases by 10 percent, by how much does demand for food change? (hint use the cross-price elasticity values in Table 4-5.)

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