The diagram below show the demand and supply for organic chocolate bars, and t price and quantity for last year. Not long ago, the company had a different price for its organic chocolate bar. At th did not have any customers. What price was that? 15 10 5 $ 200 S D Select one: O a. At $5 and below O b. $10 minus $5 = $3 O c. $15 or above Q
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- Table 4-1 PRICE $150 $120 $90 $ 60 $ 30 QUANTITY DEMANDED 10 30 50 70 90 QUANTITY SUPPLIED O a. $120 and 30 O b. $150 and 10 OC. $60 and 20 O d. $90 and 50 110 80 50 20 0 Refer to the table. What would the equilibrium price and quantity be? +Figure 64 Price $10 D2 D1 0. 10 Quantity 64. Refer to Figure 64. What kind of shift in demand does this graph show? Select one: O a. An increase in demand Ob. A decrease in demand O c. None of the above O d. A movement in demandPriçe 4 A D2 2 B 1 D1 1 2 3 4 5 6 7 7 Quantity In this graph, a move from point A to point B represents which of the following? O a decrease in demand O a decrease in quantity demanded an increase in demand O an increase in quantity demanded
- QUESTION 10 If the price elasticity of demand for a product is 2.5, then a price cut from $2.00 to S1.80 will: O A. increase the quantity demanded by about 2.5% O B. decrease the quantity demanded by about 2.5% O C.increase the quantity demanded by about 25% O D. increase the quantity demanded by about 250%a. Select the price at which a shortage would occur in this market 200 T Price $ 1504 100 50+ 0 0 20 D Supply 40 60 Quantity in Units Demand 80 100F4 O % 5 Price 90 85 80 75 70 65 60 55 50 45 40 35 30 25 20 15 10 50 Question 7 (2 points) E 0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 Quantity If the price were to be $65, then this market is experiencing an ___ in the amount of excess supply, 20 units excess supply; 30 units excess demand, 20 units excess demand; 30 units F5 Market for Laptop Chargers A 6 F6 & 7 F7 * 8 F8 →Demand →→-Supply F9 F10 ins F11 1 1 30°F Pri Se
- Suppose an economic boom causes incomes to increase and, at the same time, drives up wages for the sales representatives who work for cell phone companies. Assume that smartphones are a normal good. This will cause the: O price of cell phones and the equilibrium quantity to rise. O price of cell phones to rise, but the change in the equilibrium quantity is unclear and depends on whether the shift in demand is larger or smaller than the shift in supply. O price of cell phones and the equilibrium quantity to fall. O quantity of cell phones to rise, but the change in the equilibrium price is unclear and depends on whether the shift in demand is larger or smaller than the shift in supply.D3 D2 Quantity (fruit snacks) In the figure above, which movement reflects an increase in demand? Select one: O a. from point a to point b O b. from point a to point e O c. from point a to point d O d. from point a to point c Price (dollars per fruit snack)Price per Unit 10 8 9 4 2 0 Select one: O O O a. 4.5 units b. 6 units c. 9 units d. 8 units 6 Supply Demand 9 3 From the graph above, if the equilibrium price rose to $6 a unit due to a rightward shift in the demand curve, what would be the quantity supplied? 12 Quantity per Period
- Assume that demand for a service depends upon price and income, where the price elasticity of demand is Ep o=-0.6 and the income elasticity of demand is E1, q=1.2. If price falls by 49 and income rises by 296, the quantity demanded of the service will O A. increase by 69 O B. increase by 4.896 O C. decrease by 9.6% O D. decrease by 2.49A decrease in demand effects Market Equilibrium in the following way. Select one: O a. Decrease in quantity supplied and decrease in equilibrium price O b. No change to equilibrium c. Decrease in demand and increase in price Od. Increase in quantity demand and equilibrium priceThe figure shows the supply curve of wallets. What is the change in the quantity of wallets supplied when the price of a wallet rises from $40 to $80, while all other influences on selling plans are unchanged? The quantity of wallets supplied O A. decreases by an unknown amount O B. increases by an unknown amount O C. increases from 8 million to 16 million O D. decreases from 16 million to 8 million C 100- 80- 60- 20- UT Price (dollars per wallet) Quantity (millions of wallets per year)