1.07 - Question 1 (Worth 3 points) If the minimum wage that...

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Question 1 (Worth 3 points) If the minimum wage that all businesses pay their employees increases, what happens to the supply of consumer goods as a result? increases remains the same decreases Points earned on this question : 3 Question 2 (Worth 3 points) If soccer becomes increasingly popular and volleyball producers begin making soccer balls, what happens to supply of soccer balls as a result? increases remains the same decreases Points earned on this question : 3 Question 3 (Worth 3 points) When Mrs. Edwards raises the price of Grad Nite tickets, the supply for Grad Nite tickets decreases because there is a decrease in resources.
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the supply for Grad Nite tickets decreases because there are more regulations. the quantity supplied for Grad Nite tickets decreases because the price increases. Points earned on this question : 0 Question 4 (Worth 3 points) The market for orchids is in equilibrium. If the price decreases from $10.00 to $5.00, then we would expect to see a/an increase in supply. increase in quantity supplied.
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This note was uploaded on 05/15/2011 for the course ECON 101 taught by Professor Dannicatambay during the Fall '08 term at UPenn.

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1.07 - Question 1 (Worth 3 points) If the minimum wage that...

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