People like consuming peanut butter and jelly together. The price of peanuts increases. At the same time, we see the price for Jelly rise. How does this affect the market for peanut butter?
a. The demand curve will shift to the left; the supply curve will shift to the left
b. The demand curve will shift to the left; the supply curve will shift to the right
c. The demand curve will shift to the right; the supply curve will shift to the left
d. The demand curve will shift to the right; the supply curve will shift to the right
QUESTION 2Launching the complicated version would be a mistake for probabilities less than ___?
a. 0.2
b. 0.28
c. 0.30
d. 0.32
QUESTION 3As the income of bus riders increased, the wages of bus drivers increased simultaneously. How does this affect the market for bus rides (inferior good)?
a. The demand curve will shift to the left; the supply curve will shift to the left
b. The demand curve will shift to the left; the supply curve will shift to the right
c. The demand curve will shift to the right; the supply curve will shift to the left
d. The demand curve will shift to the right; the supply curve will shift to the right
QUESTION 4Launching the simplified version would be a mistake for probabilities less than ___?
a. 0.6
b. 0.7
c. 0.8
d. 1.0
QUESTION 5Suppose the demand for pens increases and the supply for pens decreases. What effect will it have on the equilibrium price for pens?
a. It will rise
b. It will fall
c. Uncertain
d. None
QUESTION 6If the complicated technology costs 10million to develop while the simple technology costs 2million to develop, which technology is more profitable to develop?
a. The simple voice-activated software
b. The complicated thought-activated software
c. Neither of the software
d. Need more information
QUESTION 7A recent medical study reports new benefits of cycling. Simultaneously, the price of the parts needed to make bikes falls. The demand curve would _________ and the supply curve would__________
a. Shift to the right, shift to the left
b. shift to the left, shift to the right
c. shift to the left, shift to the left
d. shift to the right, shift to the right
QUESTION 8If the simplified technology costs 2 million to develop, what is the expected gain from developing the voice activated software
a. 5million
b. 6million
c. 7million
d. 10million
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