The law of supply states that as the price of a good rises, the

The law of supply states that as the price of a good rises, the quantity supplied decreases.

The law of demand states that as the price of a good rises, the quantity demanded decreases.

A decrease in consumer income shifts the demand curve leftward.

A rise in the price of chicken feed shifts the supply curve of chickens leftward.

If both the demand and supply curves shift equal distances rightward, the equilibrium price rises.

A rise in the price of popcorn shifts the demand curve for popcorn rightward.

New technology for manufacturing computer chips is developed. The new technology will
contribute to cheaper production of computer chips
contribute to a decrease in the supply of computer chips
not affect the supply of computer chips

New cars are a normal good. Suppose the economy enters a period of strong economic expansion so that consumer incomes increase substantially. What will happen to the demand for new cars?
It will increase because a rise in overall income produces an increase in demand for normal goods.
It will stay the same because people will increase the purchase of other goods.
It will decrease because a rise in overall income produces a decrease in demand for normal goods.

A rise in the price of a game of bowling will
decrease the demand for bowling balls
increase the demand for bowling balls
result in a lot more people bowling
decrease the demand for cars

Gruel is an inferior good. Hence, an increase in consumer income
decreases the supply of gruel
increases the supply of gruel
decreases the demand for gruel
increases the demand for gruel

It costs Balls-R-Us, a supplier of soccer balls, $3.00 to produce each soccer ball and $300.00 to make one hundred soccer balls. It is able to sell these soccer balls for $10.00 each. What is the marginal cost of producing soccer balls?

Since prices don’t favor producers or consumers, they are described as

At any given price, a surplus of oranges will occur when
the quantity demanded is more than the quantity supplied
the quantity demanded is the same as the quantity supplied
the quantity supplied is less than the quantity demanded
the quantity supplied is greater than the quantity demanded

A price compromise between buyer and seller is known as a(n)
equilibrium price
target price
deficiency payment
adjustment price

The government sets a price ceiling on pizza that is below the equilibrium price of pizza, causing
a shortage of pizza
a surplus of pizza
no shortage of pizza
none of the above

In an unregulated market, which of the following will occur as a result of sudden destruction of a large proportion of the supply of housing? (Hint: This will cause a decrease in the supply of housing.) Drawing a diagram will help you.
a decrease in demand for rental housing
a surplus of rental housing
higher rental prices
a decrease in rental prices

Calculate the price of your order

Choose an academic level, add pages, and the paper type you want.
To reduce the cost of our essay writing services, select the lengthier deadline.
We can't believe we just said that to you.

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Why is Purdue Papers the Most Helpful Essay Writing Service for You?

  1. Custom-written and plagiarism-free papers: Our authors create their work from scratch. Before presenting them to clients, we routinely verify them for signs of plagiarism. Our quality assurance group also double-checks and fixes any grammatical errors, assuring that all of our authors adhere to the same standards of writing.
  2. The significance of timely delivery cannot be overstated, and we consistently strive to meet or exceed our clients' deadlines. Regardless of the short time frame, you can count on our writers to get the job done. We always have a team of writers ready to go, even if the deadline is only six hours away.
  3. Customer Satisfaction: Our customer service representatives are the best in the business and have a wealth of knowledge in dealing with clients. All our customer service representatives are trained to listen and reply promptly until you are satisfied with their service. To ensure you're happy, our expert writers will strictly follow the criteria to generate a special report. Our customer service may be contacted by chat, email, or phone. In addition, we provide round-the-clock assistance to all of our clients.
  4. Confidentiality: Our systems are safe, and your information is always protected. We're constantly looking for new facts when it comes to finishing your work. We use a safe and secure payment channel. Since our ordering process is completely anonymous, you don't have to provide any credit card information to place a purchase with us.
  5. Highly Trained Authors: Our writers have received extensive training and are committed to delivering only the best papers. They are fluent in APA, MLA, HARVARD, IEEE, CHICAGO, and AMA referencing styles. To meet your expectations, our skilled writers always pay close attention to your instructions.
  6. Lowered prices: We have set prices that are already discounted. Our prices are the best and affordable for all our esteemed customers.

Let Professionals Take Care of your Academic Paper