Blog

Jose enjoys drinking soda and eating popcorn. If when the price of popcorn rises, Jose consumes more soda, popcorn and soda are ____ for Jose.  

Suppose that computer chips are used to produce pickup trucks, and that price of a computer chip falls. As a result, there is a ____ of pickup trucks at the initial equilibrium price, and the price of a pickup truck should ____.

According to Boyle’s law, the pressure of a gas _________ if the volume of its container increases.

If, as the price of cake increases, the quantity of bread that bakeries plan to sell decreases, then cake and bread are…

Jose enjoys drinking soda and eating popcorn. If when the price of popcorn falls, Jose consumes more soda, popcorn and soda are ____ for Jose. 

With specialization and trade, people can ____.

Suppose that smartphones and smartphone cases are complements, and that price of a smartphone falls. As a result, there is a ____ of smartphone cases at the initial equilibrium price, and the price of a smartphone case should ____.

In the graph above, Area C is the ____.

Joshua’s PPF between arepas and empanadas is bowed out. Which of the following statements best describes Joshua’s opportunity costs between these two goods?

Price Quantity ofHot Chocolate Demanded Quantity ofHot Chocolate Supplied $1.00 750 cups 525 cups $1.50 700 cups 550 cups $2.00 650 cups 575 cups $2.50 600 cups 600 cups $3.00 550 cups 625 cups Suppose that the price of hot chocolate is $1 per cup. As a result, there will be a ____.