ACCT
Module 5_ Quiz.pdf

# C both the equilibrium price and quantity of mp3

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c. both the equilibrium price and quantity of MP3 players will increase. d. the equilibrium price of MP3 players may increase or decrease; the equilibrium quantity will increase. Which of the following would cause an increase in the equilibrium price and an increase in the equilibrium quantity of watermelons? Select one: a. an increase in supply and an increase in demand greater than the increase in supply b. a decrease in demand and an increase in supply c. an increase in supply d. an increase in demand and an increase in supply

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4/16/2018 Module 5: Quiz 6/9 Question 7 Correct Marked out of 1.00 Figure 4-3 shows the market for tiger shrimp. The market is initially in equilibrium at a price of \$15 and a quantity of 80. Now suppose producers decide to cut output to 40 in order to raise the price to \$18. Refer to Figure 4-3 . What is the value of consumer surplus at the equilibrium price of \$15? Select one: a. \$180 b. \$120 c. \$60 d. \$240
4/16/2018 Module 5: Quiz 7/9 Question 8 Correct Marked out of 1.00 Figure 4-3 shows the market for tiger shrimp. The market is initially in equilibrium at a price of \$15 and a quantity of 80. Now suppose producers decide to cut output to 40 in order to raise the price to \$18.

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