Question 4A decrease in the price of butter will _________ the demand for margarine, a substitute for butter.1 pointNot changeWe can’t sayIncreaseDecrease

An increase in the price of milk, an input in the production of cheese, will _________ the supply of cheese. 1 pointIncreaseNot changeWe can’t sayDecrease

Question 13An increase in the price of corn, an input in the production of ethanol, will _________ the market price and ________ the market quantity of ethanol.1 pointIncrease; increaseIncrease; decreaseNone of the other choices is correct.Decrease; increaseDecrease; decrease

Oil is an input in the production of gasoline, and gasoline and cars are complements. A decrease in the price of oil will _________ the producer surplus in the market for cars.1 pointincreasefirst increase and then decreasedecreasenot change

An increase in the price of bagels will _______ the market price and ________ the market quantity of cream cheese, a complement of bagels.1 pointIncrease; increaseDecrease; increaseIncrease; decreaseDecrease; decreaseNone of the other choices is correct.

Tomatoes are an input in the production of ketchup, and ketchup and mustard are substitutes. A decrease in the price of tomatoes will _________ the total surplus in the market for mustard. 1 pointdecreaseincreasefirst increase and then decreasenot change