Movements along the supply curve are a result of changes in __________.
An increase in income, and thus consumption, would cause which of the following to occur?
When quantity supplied and quantity demanded are the same, a market is said to be in __________.
If income elasticity is positive, but less than one, this good is considered to be a __________.
Cross-price elasticity refers to changes in demand that happen due to changes in price of related goods.If this value is negative for two goods or services, then they are __________.If this value is positive, then they are __________.
When a good is unit elastic, the absolute value of the elasticity is ___________.
If a price floor is set below the equilibrium price (P) above, which of the following will occur?