Refer to the graph above the figure shows the demand

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Question 12 (4 points) Refer to the graph above. The figure shows the demand and supply curves for eggs and shows two equilibrium points, E1 and E2. An increase in demand from D1 to D2 would cause Student response: Percent Value Correct Response Student Response Answer Choices 0.0% a. price to decline from $1.25 to $1.00 a dozen and a shortage of 2,000 dozen eggs per week. 0.0% b. price to remain at $1.00 a dozen and a shortage of 2,000 dozen eggs per week. 100.0% c. price to rise from $1.00 to $1.25 a dozen and equilibrium quantity to be 3,000 dozen eggs per week.
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The demand curve will cause a rise in price. Since there are no forces keeping price from rising, a new equilibrium at $1.25 a dozen and 3,000 dozen eggs will result. 0.0% d. price to rise from $1.00 to $1.25 a dozen and a surplus of 2,000 dozen eggs per week. Score:4 / 4 Question 13 (4 points) If quantity supplied exceeds quantity demanded, there is a tendency for: Student response: Percent Value Correct Response Student Response Answer Choices 100.0%
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0.0% 0.0% 0.0% Score:4 / 4 Question 14 (4 points) The market demand curve will always: Student response: Percent Value Correct Response Student Response Answer Choices 0.0% 0.0%
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0.0% 100.0% Score:0 / 4 Question 15 (4 points) If supply and demand intersect at a price of $5.00, then a reduction in price from $6.00 to $5.00 will cause an increase in quantity: Student response: Percent Value Correct Response Student Response Answer Choices 0.0% 0.0% 0.0%
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100.0%
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Christopher Reinemann
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