macro unit 2 challenge 1.docx - Using the above graph ...

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Using the above graph, which of the following statements is FALSE relating to the Law of Demand?
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According to recent numbers, demand for college education had fallen in recent years. Which of the following examples would indicate a movement along the demand curve?
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Why does a supply curve slope upward?
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Which of the following causes a shift in supply to the left?
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Trevor is willing to pay $22 for the DVD of a newly released movie, but the market price for the DVD he wants is only $10. What is his consumer surplus?
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Unformatted text preview:$12 At what point described below will producer surplus most likely drop to zero for a firm? When revenue equals opportunity and variable costs Price was one of the main factors keeping organic food from becoming more popular. At the moment, consumers were not purchasing as much organic milk as the farmers were producing, since they were able to continue buying the less expensive regular milk. If the price of organic milk stays high, which of the following describes what will happen? The price will go down until it reaches equilibrium. Which of the following statements explains how price and quantity influence the Law of Demand? The market price of carbonated beverages increases, so consumers purchase less of them.