SECTION# _ \ on 100 NAME__O\\ Noem PRINT LAST NAME, FIRST NAME The law of supply states that: price and quantity supplied are inversely related, ceteris paribus. price and quantity supplied are directly related, ceteris paribus. NAME a. ь. price and quantity supplied are unrelated. quantity demanded and quantity supplied are directly related. C. Use the d. Use the graph below to answer questions 7 through 9. Price ($ So $/onion S1 Quantity of onions The movement from point B to point point B to point C; A is caused by a lower price, while the shift from is caused by an increase in the number of sellers in the market. ъ. a. A; C C; F C. d. F; A The effect of a decrease in the price of onions is shown by a movement from point: 8. A to point B. B to point A. a. b. C. B to point C. F to point A. d. The effect of a decrease in the cost of growing onions is shown by a: movement from point A to point B. movement from point B to point A. 9. a. b. C. shift from So to S1. d. shift from S1 to So. Ceteris paribus, a decrease in the number of firms selling calculators will result in: 10. a decrease in the supply of calculators. a decrease in the demand for calculators. an increase in the supply of calculators. an increase in the demand for calculators. a. b. C. d. 6. 7.
SECTION# _ \ on 100 NAME__O\\ Noem PRINT LAST NAME, FIRST NAME The law of supply states that: price and quantity supplied are inversely related, ceteris paribus. price and quantity supplied are directly related, ceteris paribus. NAME a. ь. price and quantity supplied are unrelated. quantity demanded and quantity supplied are directly related. C. Use the d. Use the graph below to answer questions 7 through 9. Price ($ So $/onion S1 Quantity of onions The movement from point B to point point B to point C; A is caused by a lower price, while the shift from is caused by an increase in the number of sellers in the market. ъ. a. A; C C; F C. d. F; A The effect of a decrease in the price of onions is shown by a movement from point: 8. A to point B. B to point A. a. b. C. B to point C. F to point A. d. The effect of a decrease in the cost of growing onions is shown by a: movement from point A to point B. movement from point B to point A. 9. a. b. C. shift from So to S1. d. shift from S1 to So. Ceteris paribus, a decrease in the number of firms selling calculators will result in: 10. a decrease in the supply of calculators. a decrease in the demand for calculators. an increase in the supply of calculators. an increase in the demand for calculators. a. b. C. d. 6. 7.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Question 9
Transcribed Image Text:SECTION# _ \ on
100
NAME__O\\ Noem
PRINT LAST NAME, FIRST NAME
The law of supply states that:
price and quantity supplied are inversely related, ceteris paribus.
price and quantity supplied are directly related, ceteris paribus.
NAME
a.
ь.
price and quantity supplied are unrelated.
quantity demanded and quantity supplied are directly related.
C.
Use the
d.
Use the graph below to answer questions 7 through 9.
Price
($
So
$/onion
S1
Quantity of onions
The movement from point B to point
point B to point
C; A
is caused by a lower price, while the shift from
is caused by an increase in the number of sellers in the market.
ъ.
a.
A; C
C; F
C.
d.
F; A
The effect of a decrease in the price of onions is shown by a movement from point:
8.
A to point B.
B to point A.
a.
b.
C.
B to point C.
F to point A.
d.
The effect of a decrease in the cost of growing onions is shown by a:
movement from point A to point B.
movement from point B to point A.
9.
a.
b.
C.
shift from So to S1.
d.
shift from S1 to So.
Ceteris paribus, a decrease in the number of firms selling calculators will result in:
10.
a decrease in the supply of calculators.
a decrease in the demand for calculators.
an increase in the supply of calculators.
an increase in the demand for calculators.
a.
b.
C.
d.
6.
7.
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