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uestion 13 10 / 10 poi (Exhibit: Supply and Demand Schedules for a Good) If there were a decrease in supply by 100 units at each price, the equilibrium price and quantity would be ________ and ________ units, respectively. Question options: $2.00; 100 $3.00; 140 $3.50; 175 $4.00; 160 Demand and Supply Shifters estion 14 10 / 10 po (Exhibit: Demand and Supply Shifters) The exhibit shows how supply and demand might shift in response to specific events. Suppose consumer incomes increase. Which panel best describes how this will affect the market for dress ties, a normal good? Question options: Panel (a) Panel (b) Panel (c) Panel (d) Question 15 10 / 10 points (Exhibit: Demand and Supply Shifters) The exhibit shows how supply and demand might shift in response to specific events. Suppose the Surgeon General announces that eating chocolate prevents heart disease. Which panel best describes how this will affect the market for chocolate? Question options:
Panel (a) Panel (b) Panel (c) Panel (d)
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