Question 28 0 out of 227273 points let qd 80 pand qs

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Question 28 0 out of 2.27273 points Let QD= 80 - Pand QS= 2P- 100 describe the demand and supply function for a commodity. Suppose that government imposes a $3 tax per unit sold on producers. What is the new market price and quantity? Selected Answer: $60 and 20Answers: $40 and 50 $60 and 20 $62 and 18$80 and 80
Question 29 2.27273 out of 2.27273 points Figure 3-7
Refer to Figure 3-7.Assume that the graphs in this figure represent the demand and supply curves for potatoes and that steak and potatoes are complements. What panel describes what happens in this market when the price of steak rises?
Question 30 2.27273 out of 2.27273 points
Figure 3-8Refer to Figure 3-8.The graph in this figure illustrates an initial competitive equilibrium in the market for apples at the intersection of D2and S1(point C). Which of the following changes would cause the equilibrium to change to point B? Selected Answer: An increase in the wages of apple workers and an increase in the price of oranges, a substitute for apples.Answers: A positive change in the technology used to produce apples and decrease in the price of oranges, a substitute for apples. An increase in the wages of apple workers and an increase in the price of oranges, a substitute for apples.An increase in the number of apple producers and a decrease in the number of apple trees as a result of disease. A decrease in the wages of apple workers and an increase in the price of oranges, a substitute for apples.
Question 31 2.27273 out of 2.27273 points An ________ is represented by a rightward shift of the demand curve while an ________ is represented by a movement along a given demand curve.
Question 32 2.27273 out of 2.27273 points The following equations represent the demand and supply for bird feeders. QD= 35 - QS= -5 + 3PWhat is the equilibrium price (P) and quantity (Q- in thousands) of bird feeders? P

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