An increase in demand for chocolate chips would usually result in a(n)

An increase in demand for chocolate chips would usually result in a(n)
 a. higher equilibrium price and a lower equilibrium quantity
  b. lower equilibrium price and a lower equilibrium quantity
  c. lower equilibrium price and a higher equilibrium quantity
  d. higher equilibrium price and a higher equilibrium quantity
  e. increase in the supply of chocolate chips

QUESTION 2

A decrease in demand will result in a(n)
 a. increase in equilibrium price and quantity
  b. decrease in equilibrium price and quantity
  c. decrease in equilibrium price and an increase in equilibrium quantity
  d. increase in equilibrium price and a decrease in equilibrium quantity
  e. change in equilibrium price and quantity only if supply changes too

QUESTION 3

A decrease in demand will cause a(n)
 a. increase in supply
  b. decrease in supply
  c. increase in quantity supplied
  d. increase in equilibrium price
  e. decrease in equilibrium price

QUESTION 4

An increase in demand will cause a(n)
 a. increase in supply
  b. decrease in supply
  c. decrease in quantity supplied
  d. increase in quantity supplied
  e. decrease in equilibrium price

QUESTION 5

The effect of an increase in consumer income on equilibrium price and quantity of Florida orange juice (a normal good) is
 a. to increase equilibrium price and quantity
  b. to decrease equilibrium price and quantity
  c. to increase equilibrium price and decrease equilibrium quantity
  d. to increase equilibrium quantity and decrease equilibrium price
  e. that equilibrium price and quantity remain constant

QUESTION 6

Saccharin and aspartame are both low-calorie substitutes for sugar. If saccharin is found to cause cancer,
 a. the price of aspartame will increase
  b. the price of sugar will decrease
  c. the price of saccharin will increase
  d. the demand curves for aspartame and sugar will shift leftward
  e. aspartame and sugar will be complements