4.2

Which of the following results in a movement upward along the supply curve for movies in theaters?

An increase in the price of movie tickets

Consider the market in which bakeries operate. Suppose that the price of a cake rises. Explain how this event will change the quantity of cake supplied in the supply of cakes today.

The quantity of cake supplied increases in the supply of cakes is unchanged

Factories that produce smart phones can also produce smart watches. Which of the following events in the market for smart phones illustrates the law of supply? 1. The price of a smart watch falls. 2. A new robot technology lowers the cost of producing smart phones. 3. The price of a smart phone falls 4. The price of a smart phone is expected to rise next year 5. The wage rate paid a smart phone factory workers increases

Event #3 only

Now in the market for air travel for additional events occurs one at a time. E. A mild winter in New York and deuces more people to vacation at home F. With deep snow in the Rockies, people flock to the ski slopes. G. The price of train travel rises H. The price of a pound of air cargo risers Which of the following five statements about the market for air travel is correct

Event G increases the demand for air travel

Each of the following for events occurs once at a time in the market for air travel A. Airfares tumble, while long-distance bus fares don't change B. The price of jet fuel rises C. Airlines boost the number of flights each day D. People expect airfares to decrease next summer Only one of the following statements about the market are air travel is correct which one?

Event a change is neither the supply of nor the demand for air travel

Travis GM and the UAW agree on restricting workers jobs. This restructuring with no change in the wage rate will save GM billions and labor cost with this reduction of labor cost with no change in the wage rate change GM supplier vehicles? The cut and labor cost with no change in the wage rate will ___________.

Increase productivity, which will increase GM supplier vehicles

Which of the following events in the market for timber beams illustrates the law of supply? 1. The wage rate of saw mill workers risers. 2. The price of sawdust rises. 3. The price of a timber beam rises. 4. The price of a timber beam is expected to rise next year. 5. Environmentalist convince Congress to introduce a new law that reduces the amount of force that can be cut down for timber. 6. A new technology lowers the cost of producing timber beams.

Only event #3

In the market for skim milk, the price of a carton of skim milk falls. Explain the effect of this event on the quantity of skim milk supplied in on the supply of skim milk

Quantity of skim milk supply decreases in the supply of skim milk is unchanged.