CAS EC 101 Study Guide - Final Guide: Maple Syrup, Ceteris Paribus, Marginal Utility

• School: Boston University
• Department: Economics
• Course: CAS EC 101
• Professor: All

Document Summary

Despite being tired, you decided to run one more mile. If farmers expect the price of soybeans to continue to fall relative to other crops, then we would expect: the supply of tofu, a soy-based product, to increase. Prof. simon: consumer demand for wheat to fall, the supply to fall as farmers plant more of other crops and less of soybeans, the supply to rise as farmers plant more soybeans and less of other crops. There is a reduction in the price of boxes of paper clips. Ceteris paribus, we would expect: consumers will buy more paper clips, and their total spending will decrease, consumers will buy fewer paper clips, and their total spending will decrease. Ec101c introductory microeconomic analysis: consumers will buy more paper clips, and their total spending will increase, consumers will buy fewer paper clips, and their total spending will increase. D, the respective prices of which are pc and pd.