NAME Domingul2, Andiea SECTION#_ECO 13/1-0010 #37 PRINT LASTKNAME, FIRST NAME 7. Ceteris paribus, if demand and supply both increase at the same time, equilibrium price and equilibrium quantity increases; may rise, fall, or stay the same, depending decreases; may rise, fall, may rise, fall, may rise, fall, or stay the same, depending on the size of the two shifts. on the size of the two shifts. a. b. or stay the same, depending or stay the same, depending on the size of the two shifts; increases on the size of the two shifts; decreases с. d. Use the graph below to answer questions 8 through 10. Price So F P2 A SI Pi С Po В: DI Do 0 Qo Q2 Q3 Quantity 8. Assume this market is initially in equilibrium at point F. A decrease in the number of buyers in this market combined with improved production technology would most likely change equilibrium to point: А b. В а. C с. d. F Assume this market is initially in equilibrium at point A. An increase in the number of buyers and sellers in this market would most likely change equilibrium to point: 9. А b. В а. С с. d. F If demand is represented by Di and supply is represented by S1, at a price of P1: 10. quantity supplied is equal to Q2. quantity demanded is equal to Q2. the market is in equilibrium. All of the above statements are true. а. b. с. d. Chapter 4 Assignments 70
NAME Domingul2, Andiea SECTION#_ECO 13/1-0010 #37 PRINT LASTKNAME, FIRST NAME 7. Ceteris paribus, if demand and supply both increase at the same time, equilibrium price and equilibrium quantity increases; may rise, fall, or stay the same, depending decreases; may rise, fall, may rise, fall, may rise, fall, or stay the same, depending on the size of the two shifts. on the size of the two shifts. a. b. or stay the same, depending or stay the same, depending on the size of the two shifts; increases on the size of the two shifts; decreases с. d. Use the graph below to answer questions 8 through 10. Price So F P2 A SI Pi С Po В: DI Do 0 Qo Q2 Q3 Quantity 8. Assume this market is initially in equilibrium at point F. A decrease in the number of buyers in this market combined with improved production technology would most likely change equilibrium to point: А b. В а. C с. d. F Assume this market is initially in equilibrium at point A. An increase in the number of buyers and sellers in this market would most likely change equilibrium to point: 9. А b. В а. С с. d. F If demand is represented by Di and supply is represented by S1, at a price of P1: 10. quantity supplied is equal to Q2. quantity demanded is equal to Q2. the market is in equilibrium. All of the above statements are true. а. b. с. d. Chapter 4 Assignments 70
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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I need help with question 7.
Transcribed Image Text:NAME Domingul2, Andiea
SECTION#_ECO 13/1-0010
#37
PRINT LASTKNAME, FIRST NAME
7.
Ceteris paribus, if demand and supply both increase at the same time, equilibrium price
and equilibrium quantity
increases; may rise, fall, or stay the same, depending
decreases; may rise, fall,
may rise, fall,
may rise, fall, or stay the same, depending
on the size of the two shifts.
on the size of the two shifts.
a.
b.
or stay the same, depending
or stay the same, depending on the size of the two shifts; increases
on the size of the two shifts; decreases
с.
d.
Use the graph below to answer questions 8 through 10.
Price
So
F
P2
A
SI
Pi
С
Po
В:
DI
Do
0
Qo
Q2
Q3 Quantity
8.
Assume this market is initially in equilibrium at point F. A decrease in the number of
buyers in this market combined with improved production technology would most likely
change equilibrium to point:
А
b.
В
а.
C
с.
d.
F
Assume this market is initially in equilibrium at point A. An increase in the number of
buyers and sellers in this market would most likely change equilibrium to point:
9.
А
b.
В
а.
С
с.
d.
F
If demand is represented by Di and supply is represented by S1, at a price of P1:
10.
quantity supplied is equal to Q2.
quantity demanded is equal to Q2.
the market is in equilibrium.
All of the above statements are true.
а.
b.
с.
d.
Chapter 4 Assignments
70
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