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IncEc1 Supply/Demand

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Question
Answer
If the demand for cars increased, what would happen to the price of cars?   Increase  
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If the supply of carrots decreased, what would happen to the price of carrots?   Increase  
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What would happen to the equilibrium price and quantity of used cars, an inferior good, if incomes increased?   Price would decrease; Quantity would decrease  
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What would happen to the price and quantity of computers if the government increased the amount of regulations on the production of computers?   Price would increase; Quantity would decrease  
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What would happen to the price and quantity of gas if the supply of gas on the market increased?   Price would decrease; Quantity would increase  
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If the cost of making coffee went down, what would happen to the price of coffee?   decrease  
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If there is an oil spill, what will happen to the supply of oil, and then what will happen to the price of oil as a result?   Supply would decrease; Price would increase  
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If there is a drought, what will happen to the supply and price of wheat?   Supply would decease; Price would increase  
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Created by: Gwen Schleif
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