Top Posters
Since Sunday
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
r
4
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
Hernando G. Hernando G.
wrote...
Go to Answer
Posts: 440
Rep: 20 0
5 years ago Edited: 5 years ago, bio_man

Question 1.

Figure 3-7




Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for women's clothing. Which panel best describes what happens in this market when the wages of seamstresses rise?

• Panel (a)

• Panel (b)

• Panel (c)

• Panel (d)

Question 2.

Figure 3-7




Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for almonds. Which panel best describes what happens in this market when there is an increase in the productivity of almond harvesters?

• Panel (a)

• Panel (b)

• Panel (c)

• Panel (d)
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
Read 1036 times
7 Replies
Replies
Answer verified by a subject expert
blazeypoohblazeypooh
wrote...
#1
Posts: 404
Rep: 44 0
5 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

Hernando G. Author
wrote...
#2
5 years ago
Good timing, thanks!
wrote...
#3
5 years ago Edited: 5 years ago, bio_man

Question 1.

Figure 3-7




Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for Fruitopia, a soft drink. Which panel describes what happens in the market for Fruitopia when the price of Snapple, a substitute product, decreases?

• Panel (a)

• Panel (b)

• Panel (c)

• Panel (d)

Question 2.

Figure 3-7




Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for potatoes and that steak and potatoes are complements. What panel describes what happens in this market when the price of steak rises?

• Panel (a)

• Panel (b)

• Panel (c)

• Panel (d)
wrote...
#4
5 years ago

Answer 1

Panel (d)

Answer 2

Panel (d)
wrote...
#5
5 years ago Edited: 5 years ago, bio_man

Question 1.

Figure 3-7




Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for rice. What happens in this market if buyers expect the price of rice to fall?

• Panel (a)

• Panel (b)

• Panel (c)

• Panel (d)

Question 2.

Figure 3-7




Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for used clothing, an inferior good. Which panel describes what happens in this market as a result of a decrease in income?

• Panel (a)

• Panel (b)

• Panel (c)

• Panel (d)
wrote...
#6
5 years ago

Answer 1

Panel (d)

Answer 2

Panel (c)
wrote...
#7
5 years ago
Helps a lot... Now I'm ready for my quiz
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  886 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 166
  
 12766
  
 646
Your Opinion
Where do you get your textbooks?
Votes: 328
Previous poll results: Which country would you like to visit for its food?