Unformatted text preview: inc reas e in the number of c omputer manufac turers , other things equal
4. A requirement by univers ities that all s tudents buy pers onal c omputers
5. A reduc tion in the pric e of pers onal c omputers , other things equal
Que stion 17 (1 point)
The law of s upply
1. as s erts that as the pric e of a good or s ervic e ris es , the demand c urve s hifts
2. as s erts that as the pric e of a good or s ervic e ris es , the quantity s upplied ris es .
3. has very little to do with how pric es in a mark et-bas ed ec onomy are determined.
4. as s erts that as the pric e of a good or s ervic e ris es , the quantity s upplied
dec lines .
5. while valid, is almos t alway s ignored in a mark et-bas ed ec onomy .
Que stion 18 (1 point)
As s ume a revolutionary tec hnologic al advanc e is dis c overed in the produc tion proc es s
of automobiles by Ford Motor Company engineers . W hic h of the following events would
y ou ex pec t to happen?
1. A movement up along an ex is ting s upply c urve for Ford automobiles .
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This homework help was uploaded on 03/18/2014 for the course ECON 2010 taught by Professor Staff during the Spring '08 term at Utah Valley University.
- Spring '08