HIST 101 Chapter : His101ReschPaper
Document Summary
Today"s menu: friday 13 june 2014: business, practice problems, chapter 4: 3, 4, 6, 7, 10-19, 21, chapter 5: 1, 2, 4, 5, 7, 8, 10, chapter 6: 1-4, 7-10, 12, 14, 18-20, first exam: next tuesday. Suppose, at a given point in time, a market is in equilibrium. A decrease in the number of sellers in the market causes the supply of the good to _____, resulting in a _____ which will be eliminated as the market price of the good _____, everything else held constant. Suppose further that incomes in the country are decreasing. The equilibrium price of celery will _____ and the equilibrium quantity transacted will _____. Everything else held constant, a decrease in the price of potatoes will cause _____ in the equilibrium quantity of rice transacted. Suppose that potatoes and rice are substitutes in consumption. Everything else held constant, a decrease in the price of potatoes will cause _____ in the equilibrium price of rice.
