Chapter 3 PQ

Chapter 3 PQ - Exam Name MULTIPLE CHOICE Choose the one alternative that best completes the statement or answers the question 1 Which of the

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Exam Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question 1) Which of the following will not shift the demand curve for a good? A) An increase in consumer incomes. B) A decrease in the price of a substitute good. C) An increase in population. D) An increase in the price of the good. 1) 2) If the price of automobiles were to increase, then A) the supply of gasoline would increase. B) the demand for gasoline would increase. C) the demand for gasoline would decrease. D) the quantity demanded of gasoline would decrease. 2) 3) Technological advances have resulted in lower prices for digital cameras. What is the impact of this on the market for traditional (non - digital) cameras? A) The demand curve for traditional cameras shifts to the left. B) The supply curve for traditional cameras shifts to the left. C) The demand curve for traditional cameras shifts to the right. D) The supply curve for traditional cameras shifts to the right. 3) 4) Christopher Tang has argued that supermarkets should not necessarily remove goods from their shelves even if they are not selling well. Which of the following explains Tang's reasoning? A) If a slow - selling product is a complement of another product, removing the slow - seller would reduce sales of both products. B) A profit can be made from a slow - selling good if it sells at a high price. C) If a slow - selling product is a new product it may become a best - seller in the future. D) Removing slow - selling products will force consumers to buy these products at other stores. 4) 5) Last month, the Tecumseh Corporation supplied 400 units of three - ring binders at $6 per unit. This month, the company supplied the same quantity of binders at $4 per unit. Based on this evidence, Tecumseh has experienced
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This note was uploaded on 05/02/2009 for the course ECON 2010 taught by Professor Roussel during the Spring '08 term at LSU.

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Chapter 3 PQ - Exam Name MULTIPLE CHOICE Choose the one alternative that best completes the statement or answers the question 1 Which of the

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