A decrease in the number of sellers in the market causes
the supply curve to shift to the left.
the supply curve to shift to the right.
a movement up and to the right along a stationary supply curve.
a movement downward and to the left along a stationary supply curve.
Question 2
6.67 / 6.667 points
Which of the following events must cause equilibrium quantity to rise?
demand increases and supply decreases
demand and supply both decrease
demand decreases and supply increases
demand and supply both increase
Question 3
6.67 / 6.667 points
Figure 4-13
Refer to Figure 4-13. If Producer A and Producer B are the only producers in the market, then the market
quantity supplied when the price is $8 is
8 units.
16 units.
24 units.
32 units.
Question 4
6.67 / 6.667 points
Two goods are complements when a decrease in the price of one good
decreases the quantity demanded of the other good.
decreases the demand for the other good.
increases the quantity demanded of the other good.
increases the demand for the other good.
Question 5
6.67 / 6.667 points
substitute good.
complementary good.
normal good.
inferior good.
Question 6
6.67 / 6.667 points
$2, there is a surplus of 6 units.
