C13 Microeconomics Online Exams 1-8 Answers (Ashworth College)

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C. 1 D. 10 Question 5 of 205.0/ 5.0 Points When supply decreases and the supply curve shifts to the left, equilibrium price __________ and equilibrium quantity __________ . A. increases; increases B. increases; decreases C. decreases; increases D. decreases; decreases Question 6 of 205.0/ 5.0 Points When supply increases and the supply curve shifts to the right, equilibrium price __________ and equilibrium quantity __________ . A. increases; increases B. increases; decreases C. decreases; increases D. decreases; decreases Question 7 of 205.0/ 5.0 Points A change in the quantity demanded of a product is the result of a change in __________ . A. the price of the product B. the price of related goods
C. consumer income D. the cost of producing the product Question 8 of 205.0/ 5.0 Points A demand curve is defined as the relationship between __________ . A. the price of a good and the quantity of that good that consumers are willing to buy B. the price of a good and the quantity of that good that producers are willing to sell C. the income of consumers and the quantity of a good that consumers are willing to buy D. the income of consumers and the quantity of a good that producers are willing to sell Question 9 of 205.0/ 5.0 Points The quantity of TVs sold is 100 at the unit price $200. Suppose the price elasticity of demand for TVs by the initial value method is 2.0, and you would like to decrease the unit price for TVs to $150. Then the new quantity sold must be __________ . A. 125 B. 150 C. 200 D. 250 Question 10 of 5.0/ 5.0 Points 20 Suppose that in a month the price of tulips increases from $1 to $1.50. At the same time, the quantity of tulips demanded decreases from 200 to 190. The price elasticity of demand for tulips (calculated using the initial value formula) is __________ .
Page 1 and 2: C13 Microeconomics Online Exams 1-8
Page 3 and 4: C. the cost of bait, any other mone
Page 5 and 6: A. allowing the government and othe
Page 7 and 8: C. The answer depends on how much y
Page 9: D. 20 Question 2 of 205.0/ 5.0 Poin
Page 13 and 14: Question 13 of 5.0/ 5.0 Points 20 T
Page 15 and 16: A. consumer income rises B. the pri
Page 17 and 18: C. $55,000 D. $100,000 Question 4 o
Page 19 and 20: B. maximum amount the consumer woul
Page 21 and 22: If the government imposes a maximum
Page 23 and 24: B. a monetary payment from the gove
Page 25 and 26: A. increase and output will decreas
Page 27 and 28: D. encourage driving to generate re
Page 29 and 30: A. are designed to encourage more p
Page 31 and 32: C. Fixed costs are always the large
Page 33 and 34: A. the different combinations of tw
Page 35 and 36: C. the foregone interest and the co
Page 37 and 38: The equimarginal rule __________ .
Page 39 and 40: A. a perfectly competitive market B
Page 41 and 42: A. demand for butter increased caus
Page 43 and 44: C. firms act strategically D. all o
Page 45 and 46: A. change in labor necessary to pro
Page 47 and 48: D. reduce the wealth of the poorest
Page 49 and 50: A. an increase in demand for highly
Page 51 and 52: C. individual labor supply D. marke
Page 53 and 54: A. autarky B. absolute advantage C.
Page 55 and 56: A. increase imports and raise price
Page 57 and 58: Suppose there are only two nations,
Page 59: C. produced by a nation before trad

C13 Microeconomics Online Exams 1-8 Answers (Ashworth College)

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