Reference no: EM132080588

Question1:

In order to derive the market supply curve from individual supply curves, we add up

a. various prices that individual sellers are changing for the product

b.various quantities that invidividual sellers want to sell at specific price levels

c. total number of sellers in the market at a given time

d. the marginal cost of the last unit produced by some firm.

Question:2

Which statement is true about supply?

a. there is an inverse relationship between price and quantity supplied

b.As price decreases, producers are willing to put more of the good on the market for sale

c. supply refers to the amount of inventory that sellers have in their warehouse.

d to entice producers to offer more of a good on the market for sale, price must rise

Question 3

Which of the following will cause the demand curve for cable tv to shift let, ceteris paribus

a. a decrease in the price of streaming channels such as roku

b. Rise in the price of cable TV

c. Increase in average income

d. Increase in Population

Question4

Demand is defined as

a. The amount of a good or service that people want at any price

b.The amount of a good or service people want to purchase at a particular price

c.The amount of a good or service people want to purchase at a specific price

d. The amount of a good or service people are able and willing to purchase at any price during a specific time.