7.With respect to each of the following changes, identify whether the demandcurve will shift rightward or leftward:a. An increase in income (the good under consideration is a normal good)b. A rise in the price of a substitute goodc. A fall in the price of a complementary goodd. A fall in the number of buyers
9.What is wrong with this statement? As the price of a good falls, the supply of that good falls, ceteris paribus?
.12.What is the difference between supply and quantity supplied?
16.Must consumers’ surplus equal producers’ surplus at equilibrium price? Explain your answer.
18.A Dell computer is a substitute for a Hewlett-Packard computer. What happens to the demand for Hewlett-Packard computers and the quantity demanded of Hewlett-Packard computers as the price of a Dell falls?
19.Describe how each of the following will affect the demand for personal computers: (a) A rise in incomes (assuming computers are a normal good); (b) A lower expected price for computers; (c) Cheaper software; (d) Simpler-to-operate computers.