Supply and Demand

The consumer surplus would first decrease, then increase.

There would be no change in consumer surplus.

Consumer surplus would increase.

Consumer surplus would decrease.

Decreases willingness-to-pay as buyers perceive taxed goods as less desirable.

No direct effect; it reduces quantity sold though increased prices without changing buyer's valuation (willingness-to-pay).

Increases willingness-to-pay since costs are passed onto buyers through higher prices.

Price decreases, quantity increases

Price decreases, quantity decreases

Price increases, quantity decreases

Price increases, quantity increases

They purchase more snacks.

They purchase fewer snacks.

They switch to another brand selling single packs of snacks only.

They complain about overconsumption concerns.

Dividing the quantity demanded by the quantity supplied.

Adding up all the individual consumer surpluses.

Multiplying the quantity demanded by the market price.

Subtracting producer surplus from the market price.

Producers would immediately expand their production capacity, shifting supply rightward thus decreasing current prices.

The current price of coffee beans would increase due to expected future scarcity driving up today's demand.

Today's consumer surplus would decrease as consumers wait for future prices to fall before making purchases.

The anticipation of increased future prices has no effect on today’s market if all else remains constant.

The demand curve for electric cars shifts rightward.

The supply curve for electric cars shifts leftward.

The demand curve for gasoline decreases but has no effect on electric cars' demand.

Producer surplus in the gasoline car market increases.

Current demand for that good remains unchanged.

Current demand for that good will increase.

Current supply of that good decreases instead.

Current demand for that good will decrease.

When government necessitates creating additional supplies without increasing demands.

The financial gain obtained by consumers when purchasing products below their willingness to pay.

The difference between what producers receive from selling goods/services & their cost of production.

A measure reflecting total output generated by firms within an industry sector.

Total revenues minus total economic profits earned by all producers combined.

The relative market prices and profits between growing wheat versus corn

The nutritional benefits provided by consuming wheat instead of corn

The weather conditions favorable for wheat compared to those for corn

The soil quality improvements specifically attributed to planting wheat