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Current Location1.Principles of Economics I (ECON-1133-05-F14)2.Graded QUIZZES3.Review Test Submission: chp3_demandsupplyMenu Management OptionsCourse Menu:Principles of Economics I (ECON-1133-05-F14)Home PageInformationGraded QUIZZESCourse MaterialsDiscussionsGroupsToolsHelpTegrity ClassesReview Test Submission: chp3_demandsupplyContentUserJazmin M. MoralesCoursePrinciples of Economics I (ECON-1133-05-F14)Testchp3_demandsupplyStarted9/22/14 10:07 PMSubmitted9/22/14 10:17 PMDue Date9/22/14 11:59 PMStatusCompletedAttempt Score250 out of 250 points Time Elapsed9 minutes.InstructionsQuestion 110 out of 10 points
Figure 3-1Refer to Figure 3-1. An increase in population would be represented by a movement fromSelected Answer:D1 to D2Answers:A to D1 to D2 to B to .BDDAQuestion 210 out of 10 pointsAuctions in recent years have resulted in higher prices paid for letters written by John Wilkes Booth than those written by Abraham Lincoln. What is a reason for this difference in price? Question 310 out of 10 pointsFigure 3-7Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for almonds. Which panel best describes what happens in this market when there is an increase in the productivity of almond harvesters?
Question 410 out of 10 pointsFigure 3-7Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for bicycle helmets. Which panel best describes what happens in this market if there is a substantial increase inthe price of bicycles?Question 510 out of 10 pointsIn October, market analysts predict that the price of platinum will fall in November. What happens in the platinum market in October, holding everything else constant? Selected Answer:Answers:The supply curve shifts to the right.The quantity demanded and the quantity supplied of platinum increase.The supply curve shifts to the left.The demand curve shifts to the right.