Can you please answer the questions below without explanation. Thank you in advance. 7) Reasons for supply curves being positively sloped include: A) typically, as output rises, unit costs rise, so price must also rise. B) firms always want to raise prices to boost profits. C) the higher the demand for a good the more firms can charge. D) all of the above. 8) If the cost of producing Good A falls, this will cause A) an increase in the market price of Good A. B) a shift in the demand for Good A. C) a shift in the supply of Good A. D) none of the above

Can you please answer the questions below without explanation. Thank you in advance. 7) Reasons for supply curves being positively sloped include: A) typically, as output rises, unit costs rise, so price must also rise. B) firms always want to raise prices to boost profits. C) the higher the demand for a good the more firms can charge. D) all of the above. 8) If the cost of producing Good A falls, this will cause A) an increase in the market price of Good A. B) a shift in the demand for Good A. C) a shift in the supply of Good A. D) none of the above

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

ChapterP2: Microeconomics Policy Issues

Section: Chapter Questions

Problem 4KC

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Assuming a normal market, with a positively sloped supply and negatively sloped demand, which is initially in equilibrium. Given the situation stated below, fill in the blanks matching the effect as either: increase, decrease, no change or indeterminate (cannot determine). Market for IBM computers Technology improves for the production of IBM computers, and consumers preferences for Apple computers increases due to Apple's unique application programs (a) Supply will (Click for List) decrease is indeterminate (unable to determine) increase not change (b) Demand will (Click for List) is indeterminate (cannot determine) not change increase decrease (c) Equilibrium price will (Click for List) decrease be indeterminate (unable to determine) increase not change (d) Equilibrium quantity will (Click for List) be indeterminate (unable to determine) decrease increase not change
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