SOPHIA ECON102 Unit 2 Milestone Updated/SOPHIA ECON102 Unit 2 Milestone Updated

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Question 1 In economic terms, which of the following happened when cupcakes went from being homemade treats to being specialized gourmet goodies with multiple TV shows devoted to them and people wait... ing in line for them? A change in the quantity of cupcakes demanded caused movement along the demand curve. Changes in public tastes created a shift in the demand curve. As the price of cupcakes rose, so did demand. Changing tastes created a shift in the supply curve. Question 2 Which graph below correctly illustrates a scenario in which the regular price for a set of four tires is $250, but Erin finds a store that has the tires she needs on sale for $175? Question 1 In economic terms, which of the following happened when cupcakes went from being homemade treats to being specialized gourmet goodies with multiple TV shows devoted to them and people waiting in line for them? A change in the quantity of cupcakes demanded caused movement along the demand curve. Changes in public tastes created a shift in the demand curve. As the price of cupcakes rose, so did demand. Changing tastes created a shift in the supply curve. Question 2 Which graph below correctly illustrates a scenario in which the regular price for a set of four tires is $250, but Erin finds a store that has the tires she needs on sale for $175? [Show More]

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