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[answered] 1. A grocery chain orders 300 cases of Fizzy Pop each week


1. A grocery chain orders 300 cases of Fizzy Pop each week and sells them at a price of $6.00 per case. At the end of the ?rst week, they have only sold 210 cases. What economic situation is the grocery chain up against and what will need to occur respective to price for equilibrium to be achieved? A. Surplus; price will rise. B. Surplus; price will fall. C. Shortage,- price will rise. D. Shortage,- price will fall. E. Nothing since the market is in equilibrium. 2. Which of the items below may produce an increase in the supply for a good or service, X? If more than one item applies, please identify them all separated by a ? ? A decrease in the number of sellers for the good or service. An increase in the price of inputs used to make good/service X. An increase in consumers' income, assuming a normal good or service. An improvement in technology used in production of good/service X. None of the above WPOW? 3. If the price of electricity increases, that could lead to an: A. increase in the demand for kerosene heaters B. increase in the demand for light bulbs C. increase in the demand for stereos D. increase in the demand for TVs. . None of the above [Ti 4. Which of the following occurrences could cause an increase in the market demand for Corona (a brand of beer)? A decrease in the price of Corona. An increase in the price of Heineken (another brand of beer). An increase in the price of Planters peanuts (a complementary good). An increase in income, if Corona is an inferior good. None of the above will cause an increase in demand. WPOW?
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