Macro 3th Assignment - Valencia Community College ECO2013...

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Valencia Community College ECO2013: Principles of Macroeconomics HW (Supply and Demand) (2%) Assignment # 3 Last Name, First Name: Mojocoa, Gabriel CRN 26422 Date: 1/28/11 1) Based on the above figure, which diagram depicts the effect on the demand for Cheerios when the price of Apple Jacks cereal has increased? A) A 2) Based on the above figure, which diagram depicts the effect on the demand for Cheerios when the price of Apple Jacks cereal has decreased? B) B 3) Based on the above figure, which diagram depicts the effect on the supply of Corn Flakes when the price of corn has tripled? C) neither graph 4) Based on the above figure, which diagram depicts the effect on the supply of Corn Flakes when the price of corn has decreased? B) D 5) Regarding the above figure, at a price of two cents, the quantity of bubble gum demanded will be A) 3. 6) Regarding the above figure, at a price of four cents, the quantity of bubble gum supplied will be B) 2. 7) Regarding the above figure, at a price of three cents, a(n) ________ of bubble gum will exist in the market.
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