Refer to Table. If these are the only four sellers in the market, then when the price increases from $2 to $4, the market quantity supplied O a. increases by 14 units. O b. decreases by 28 units. O. decreases by 14 units. O d. increases by 28 units. QUESTION 20 Assume that the supply of a product increases but the demand stays the same. This would cause the equilibrium price O a. to decrease and equilibrium quantity to increase. O b. and equilibrium quantity to both increase. O. to increase and equilibrium quantity to decrease. O d. and equilibrium quantity to both decrease.
Refer to Table. If these are the only four sellers in the market, then when the price increases from $2 to $4, the market quantity supplied O a. increases by 14 units. O b. decreases by 28 units. O. decreases by 14 units. O d. increases by 28 units. QUESTION 20 Assume that the supply of a product increases but the demand stays the same. This would cause the equilibrium price O a. to decrease and equilibrium quantity to increase. O b. and equilibrium quantity to both increase. O. to increase and equilibrium quantity to decrease. O d. and equilibrium quantity to both decrease.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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19 and 20 please
Transcribed Image Text:QUESTION 19
Table
Quantity Supplied
Price
(Units)
(Dollars per unit)
Firm A Firm B Firm C Firm D
2
2
3
4
5
4
4
6
10
6
6.
12
15
12
14
20
10
10
15
16
25
Refer to Table. If these are the only four sellers in the market, then when the price increases from $2 to $4, the market quantity supplied
O a. increases by 14 units.
O b. decreases by 28 units.
O. decreases by 14 units.
Od.increases by 28 units.
QUESTION 20
Assume that the supply of a product increases but the demand stays the same. This would cause the equilibrium price
a. to decrease and equilibrium quantity to increase.
O b. and equilibrium quantity to both increase.
O. to increase and equilibrium quantity to decrease.
O d. and equilibrium quantity to both decrease.
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