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Economics

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Feb 20, 2024

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Question 9 10 / 10 point The intersection of the supply and demand curves indicates: Question options: the equilibrium solution in the market. a surplus that will cause the price to fall. a shortage that will cause the price to rise. the quantity demanded exceeds the quantity supplied. Question 10 10 / 10 points A decrease in supply means: Question options: a shift to the left of the entire supply curve. moving downward (to the left) along the supply curve with lower prices. less will be demanded at every price. more will be supplied at every price. Demand & Supply Schedule uestion 11 10 / 10 poi (Exhibit: Demand and Supply Schedules for a Good) The equilibrium price is ________ and the equilibrium quantity is ________. Question options: $2.00; 230 units $3.00; 240 units $4.00; 210 units impossible to determine; impossible to determine Question 12 10 / 10 points (Exhibit: Demand and Supply Schedules for a Good.) If there were an increase in demand by 50 units at each price, the equilibrium price and quantity would be ________ and ________ units, respectively. Question options:
$2.00; 310 $2.50; 295 $3.00; 290 $3.50; 250
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