It is useful to be able to predict the extent ______ which a price change will affect supply and demand. A: A) with B: B) from C: C) for D: D) to

An increase in market supply and an increase in market demand will result in A: A decrease in equilibrium price and an increase in equilibrium quantity B: A decrease in equilibrium price - the change in equilibrium quantity is indeterminate C: An increase in equilibrium quantity and the change in price is unclear D: all of above

Of the following factors, all, except （ ） , can influence the change in the supply of a particular commodity. A: technology B: the price of inputs (cost) C: expectations D: the price of the commodity itself

At the beginning of the section “A Balancing Act,” the author says, “Many factors affect prices, but supply and demand top the list.” Give some examples to show how supply and demand affect prices.

If demand exceeds supply, the market can bear a higher price.