Econ002_Quiz2

Econ002_Quiz2 - Name: Section: SID: 2008 Fall Econ 002 Quiz...

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Name: SID: Section: 2008 Fall Econ 002 Quiz 2 1. The primary difference between a change in supply and a change in the quantity supplied is: a. Change in quantity supplied is a movement along the supply curve, while a change in supply is a shift in the supply curve. b. Both a change in quantity supplied and a change in supply are movements along the supply curve, only in different directions. c. A change in supply is related to the supply curve, while a change in quantity supplied is related to shifts in the demand curve that elicit a change in supply. d. A change in supply is a movement along the supply curve, while a change in quantity supplied is a shift in the supply curve. 2. Given that chicken and beef are substitute goods, if the price of chicken decreases substantially, there would be: a. An increase in the demand for beef. b. A decrease in the demand for beef. c. A decrease in the quantity of beef demanded. d. No change in the demand for beef.
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This note was uploaded on 05/25/2010 for the course ECON 2 taught by Professor Mahalingam during the Winter '10 term at UC Riverside.

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Econ002_Quiz2 - Name: Section: SID: 2008 Fall Econ 002 Quiz...

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