A demand curve for The Steel Porcupines' concert tickets would show the:
a. number of tickets the box office is willing to sell at various prices.
b. number of people who need tickets.
c. quality of people who want to buy these concert tickets.
d. number of tickets that will be purchased at various prices.
d
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Which of the following would most likely lead to discrimination with landlords?
a. rent fluctuating around equilibrium price b. rent at equilibrium price c. rent above equilibrium price d. rent below equilibrium price
Suppose that the market for fresh California navel oranges is in equilibrium and then an unanticipated freeze destroys half of the California navel orange crop. Assuming all other factors affecting supply or demand remain unchanged, how would you expect this event to change the market equilibrium for California navel oranges?
a. The demand for navel oranges would decrease resulting in a lower market equilibrium price and quantity. b. The supply of navel oranges would decrease resulting in a higher market equilibrium price and a lower market equilibrium quantity. c. Both supply and demand would increase, resulting in an increase in equilibrium quantity and an indeterminate change in price. d. Both supply and demand would decrease, resulting in a decrease in both equilibrium quantity and price.