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PRACRICE_MID-I

# PRACRICE_MID-I - PRACRICE MID-TERM I 1"As the price of...

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PRACRICE MID-TERM I 1."As the price of personal computers continues to fall, demand increases." This headline is inaccurate because A) a change in the price of personal computers shifts the demand curve. B) a change in the price of personal computers shifts the supply curve. C) the statement is backwards: increased demand leads to lower prices. D) falling prices for personal computers increases quantity demanded, not demand. E) falling prices for personal computers increases quantity supplied. 2.What might cause a demand function to shift to the right ? 3.If the price of computers increases and the demand for monitors decreases, then 4.As consumers' incomes increase, the demand for ground beef decreases. Ground beef is called a(n) good. 5.Increases in the prices firms pay for inputs causes a(n) A) decrease in quantity supplied. D) decrease in supply. B) increase in supply. E) output prices to fall. C) increase in quantity supplied. 6.Suppose that both supply and demand for DVD players decrease. One can predict that the 1

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P r i c e Q u a n t i t y 5 1 0 1 5 2 0 2 5 3 0 3 5 4 0 4 5 1 0 2 0 3 0 4 0 5 0 6 0 7 0 7. At a price of \$20, 8. Suppose all the sellers in this market started out charging a price of \$45 per unit. What is the most likely result?
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PRACRICE_MID-I - PRACRICE MID-TERM I 1"As the price of...

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