Test_2 - EXCERCISE 2, Due Mon. August 30 Name_ MULTIPLE...

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EXCERCISE 2, Due Mon. August 30 Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question 1) Which of the following is NOT an application of supply and demand analysis? A) Understanding changing world economic conditions and their effects on prices B) Determining how taxes affect aggregate consumption spending patterns C) Evaluating the effects of government price controls on the agricultural industry D) all of the above E) none of the above 1) 2) A supply curve reveals: A) the maximum level of output an industry can produce, regardless of price. B) the difference between quantity demanded and quantity supplied at each price. C) the quantity of output that producers are willing to produce and sell at each possible market price. D) the quantity of output consumers are willing to purchase at each possible market price. 2)
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Test_2 - EXCERCISE 2, Due Mon. August 30 Name_ MULTIPLE...

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