Category: Supply and Demand

A. Pepsi’s advertising is not as effective as in the past .
B. The price of Coca Cola has increased,
C. Pepsi consumers had an increase in income.
D. The price of Pepsi increased

A. Economic profit
B. Accounting profit
C. Normal profit
D. supernormal profit

A. Reduces revenue
B. Leaves revenue unchanged
C. Increase revenue
D. Reduces costs

A. As the price of calculators rise, the quantity supplied of calculators decreases, ceteris paribus.
B. As the price of calculators calls the supply of calculators increases, ceteris paribus.
C. As the price of calculators rise, the quantity supplied of calculators increases, ceteris paribus.
D. As the price of calculators rise, the supply of calculators increases ceteris paribus.

A. incomes, tastes, and the price of other goods.
B. income, tastes, and the price of the good.
C. income and tastes
D. tastes and the price of other goods

A. elastic
B. perfectly elastic
C. unitarily elastic
D. inelastic.

A. the quantity consumers would like to buy in an ideal world
B. The quantity consumers are willing to sell
C. The quantity consumers are willing and able to buy at each and every income all other things unchanged
D. The quantity consumers are willing and able to buy each and every price all other things changed

A. shift aggregate supply to the right
B. shift aggregate supply to the left
C. shift aggregate demand to the right
D. shift aggregate demand to the left

A. Lead to a contraction of supply
B. Lead to an expansion of supply
C. Lead to a shift in supply outwards (i.e more supplied at each and every price)
D. Lead to a higher equilibrium and lower equilibrium quantity

A. The ceteris paribus effect
B. The diminishing marginal utility effect.
C. The substitution effect
D. The income effect