7)If the Apple iPad and the Samsung Galaxy Tab are considered substitutes, then, other things equal,an increase in the price of the iPad will7)A)increase the demand for the Galaxy Tab.B)decrease the demand for the iPad.C)increase the quantity demanded for the Galaxy Tab.D)increase the quantity demanded for the iPad.
8)What is the difference between an "increase in demand" and an "increase in quantity demanded"?8)
9)If an increase in income leads to in an increase in the demand for peanut butter, then peanut butteris9)
10)If an increase in income leads to a decrease in the demand for popcorn, then popcorn is10)
11)An example of a factor of production is11)A)a computer produced by an Dell.B)a worker hired by Dell.C)stock issued by Dell.D)the computers exported by Dell.
Figure 2-7 Figure 2-7 shows the production possibilities frontiers for Pakistan and Indonesia. Each country produces two goods, cottonand cashews.12)Refer to Figure 2-7.What is the opportunity cost of producing 1 pound of cashews in Pakistan?12)