QUESTION 31 Suppliers will be willing to supply a product only if. the price received is less than the additional cost of producing the product the price received is at least equal to the additional cost of producing the product the price is higher than the average cost of producing the product O the price received is at least double the additional cost of producing the product QUESTION 32 Suppose that the demand curve shifts to the left while the supply curve shifts to the right. As a consequence, we would expect to see O the equilibrium price rise O the equilibrium price fall the equilibrium quantity fall O the equilibrium quantity rise QUESTION 33 If, in the market for peaches, the supply curve has shifted to the left the supply of peaches has increased. the supply of peaches has decreased. the quantity of peaches supplied has increased. the quantity of peaches supplied has decreased.

QUESTION 31 Suppliers will be willing to supply a product only if. the price received is less than the additional cost of producing the product the price received is at least equal to the additional cost of producing the product the price is higher than the average cost of producing the product O the price received is at least double the additional cost of producing the product QUESTION 32 Suppose that the demand curve shifts to the left while the supply curve shifts to the right. As a consequence, we would expect to see O the equilibrium price rise O the equilibrium price fall the equilibrium quantity fall O the equilibrium quantity rise QUESTION 33 If, in the market for peaches, the supply curve has shifted to the left the supply of peaches has increased. the supply of peaches has decreased. the quantity of peaches supplied has increased. the quantity of peaches supplied has decreased.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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