A decrease in the price of eggs will result in a(n):

greater quantity of eggs demanded.

The P of DVD players falls and the Q of DVD players sold increases. This can be the result of:

the supply of DVD players shifting to the right.

Which of the following will result in an increased price of milk?

a shift to the right of the demand curve for milk

Which of the following is most likely to shift the supply of milk to the right?

a decrease in the price of feed given to dairy cows

A decrease in the price of eggs will result in a(n):

downward movement along the supply curve of eggs.

A decrease in supply of a good is caused by:

suppliers' expectation of higher future prices for the good.

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Supply and Demand, Man!

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Quiz prep for M5-M7 in Krugman's Economics for AP

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Questions 11

Answers

1
A decrease in the price of eggs will result in a(n):
greater quantity of eggs demanded.
increase in the supply for eggs.
decrease in the demand for eggs.
increase in the demand for eggs.
2
An increase in Supply, with no change in Demand, leads to _____in equilibrium Q & _____in equilibrium P.
a decrease; an increase
a decrease; a decrease
an increase; an increase
an increase; a decrease
3
The P of DVD players falls and the Q of DVD players sold increases. This can be the result of:
the supply of DVD players shifting to the right.
the supply of DVD players shifting to the left.
the demand for DVD players shifting to the right.
the demand for DVD players shifting to the left.
4
Which of the following will result in an increased price of milk?
a shift to the right of the supply curve for milk
a shift to the right of the demand curve for milk
an increase in the number of milk suppliers
a decrease in the number of milk consumers
5
The ________ apples will decrease due to higher apple prices.
tastes and preferences for
quantity demanded for
demand for
supply for
6
A direct relationship between price and quantity is represented by:
the supply curve
equilibrium
the PPC
the demand curve
7
Which of the following is most likely to shift the supply of milk to the right?
an increase in household income and milk is a normal good
removal of milk subsidies previously given to dairy farmers
a decrease in the price of feed given to dairy cows
the bankruptcy of many small dairy farms
8
A decrease in the price of eggs will result in a(n):
increase in the demand for eggs.
decrease in the supply of eggs.
decrease in the demand for eggs.
downward movement along the supply curve of eggs.
9
A decrease in supply of a good is caused by:
an advancement in the technology for producing the good.
an increase in the number of producers of that good.
a decrease in input prices.
suppliers' expectation of higher future prices for the good.
10
If the P of X decreases and the D for Y increases, then this most likely means that X & Y are:
complements
normal
substitutes
inferior
11
The sum of individual D curves for a particular product, holding price constant, is known as:
total production possibilities
market demand
market supply
complements in production

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