Chapter 4 Prep Assignment: The Market Forces of Supply and Demand: End of Chapter

A change in which of the following will not shift the demand curve for hamburgers?

The price of hamburgers.

An increase in ________ will cause a movement along a given demand curve, which is called a change in ________.

supply, quantity demanded

Movie tickets and film streaming services are substitutes. If the price of film streaming increases, what happens in the market for movie tickets?

The demand curve shifts to the right.

The discovery of a large new reserve of crude oil will shift the ________ curve for gasoline, leading to a ________ equilibrium price.

supply, lower

If the economy goes into a recession and incomes fall, what happens in the markets for inferior goods?

Prices and quantities both rise.

Which of the following might lead to an increase in the equilibrium price of jelly and a decrease in the equilibrium quantity of jelly sold?

An increase in the price of grapes, an input to jelly.