Quiz2 - ECO 201 Quiz # 2 Dr. Antonio Saravia Multiple...

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Quiz # 2 Dr. Antonio Saravia Multiple Choice Identify the letter of the choice that best completes the statement or answers the question. ____ 1. Which of the following would NOT be a determinant of demand? a. the price of related goods b. income c. tastes d. the prices of the inputs used to produce the good ____ 2. You love peanut butter. You hear on the news that 50 % of the peanut crop in the South has been wiped out, which will cause the price to double by the end of the year. As a result, a. your demand for peanut butter will increase by the end of the year. b. your demand for peanut butter increases today. c. your demand for peanut butter falls as you look for a substitute good. d. you decide to give up peanut butter completely. Figure 4-10 ____ 3. Refer to Figure 4-10. Which of the four graphs represents the market for peanut butter after a major hurricane hits the peanut-growing south? a.
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Quiz2 - ECO 201 Quiz # 2 Dr. Antonio Saravia Multiple...

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