lecture 2.4 quiz

Refer to Table 4-6. Which supply schedules obey the law of supply? a. firms B's and Firm D's only b. firm a's and firm c's only c. firm a's only d. firm b's, firms c's, and firm d's only

a. firm b's and firm d's only

Refer to Table 4-7. If these are the only four sellers in the market for ice cream, then the market quantity supplied at a price of $8 is a. 20 gallons b. 40 gallons c. 10 gallons d. 32 gallons

b. 40 gallons

Refer to Table 4-7. If these are the only four sellers in the market for ice cream, then when the price increases from $4 to $6, the market quantity supplied a. increases by 20 gallons b. increases by 10 gallons c. decrease by 20 gallons d. decreases by 10 gallons

b. increases by 10 gallons

Refer to Table 4-6. If these are the only four sellers in the market, then when the price increases from $6 to $8, the market quantity supplied a. decreases by 4 units b. increases by 2 units c. increases by 42 units d. increases by 0.5 units

b. increases by 2 units

Refer to Table 4-8. Suppose Firm X and Firm Y are the only two sellers in the market. If the market price decreases from $12 to $9, quantity supplied will a. increases by 6 units b. increases by 12 units c. decrease by 6 units d. decrease by 12 units

c. decrease by 6 units

refer to table 4-8. if these are the only three sellers in the market, then the market quantity supplied at a prices of $6 is a. 12 units b. 18 units c. 6 units d. 24 units

d. 24 units

which of the following would cause a movement along the supply curve for cupcakes? a. an increase in the price of cake flour b. a decrease in the price of cupcakes c. an improvement in technology for commercial mixers d. all of the above are correct

d. a decrease in the price of cupcakes

a decrease in the number of sellers in the market causes a. a movement up and to the right along a stationary supply curve b. a movement downward and to the left along stationary supply curve c. the supply curve to shift to the right d. the supply curve to shift to the left

d. the supply curve to shifts to the left