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Terms in this set (12)Identical products, as well as a large number of buyers and sellers, are characteristics of a _________ market. In such markets, sellers of goods _________ influence the prevailing market price, giving them the role of price _______ in the market. -perfectly competitive True or False: The market for digital cable does exhibit the two primary characteristics that define perfectly competitive markets. False Consider the market demand for cereal. An increase in income of consumers shift An increase in the price of cereal movement along curve A change in the expectations of consumers about their future income shift Because you understand the law of supply, you can deduce that the correct graphical representation of the supply for CDs must be _______. Moreover, you know that at a price of $10 per CD, thequantity supplied _________ is five million CDs. S1, quantity supplied A decrease in the price of labor (used in the production of cereal) shift A decrease in the number of producers shift The following graph shows the market for pizzas in Houston, where there are over 1,000 pizza restaurants at any given moment. Suppose the number of pizza restaurants increases significantly. supply shifts to the right and demand stays the same 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. Other sets by this creatorLet me tell you - Quiz 310 terms Ameera4821 Who Dat- Quiz 69 terms Ameera4821 Unit 119 terms Ameera4821 Unit 102 terms Ameera4821 Verified questions
economics On September 21, 1995, "House Speaker Newt Gingrich threatened today to send the United States into default on its debt for the first time in the nation's history, to force the Clinton Administration to balance the budget on Republican terms" (New York Times, September 22, 1995, p. A1). That same day, the interest rate on 30-year U.S. government bonds rose from 6.46 to 6.55 percent, and the dollar fell in value from 102.7 to 99.0 yen. Use the model of the large open economy to explain this event. Verified answer
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Which of the following changes will occur to the market for movie tickets?The demand curve for movie tickets will shift in, causing the price to decrease and the quantity to increase.
What is a competitive market quizlet?A competitive market is one in which there are many buyers and many sellers so that each has a negligible impact on the market price. If a seller were to change their price, their buyers are likely to switch sellers. No single seller can impact the market price in a competitive market.
Which of the following will cause an increase in the quantity demanded of movie tickets?Which of the following will cause an increase in the quantity demanded of movie tickets? A decrease in the price of movie tickets will cause an increase in the quantity demanded of movie tickets.
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Consider the market for film streaming services, TV sets and movie tickets Quizlet
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