简答题A supply curve slopes upward because ______. A、as more is produced, total cost of production falls B、an increase in input prices increases supply C、the quantity supplied of most goods and services increases over time D、an increase in price gives producers an incentive to supply a larger quantity多选题In the figure below, at a price of ______. A、5, there is neither a shortage nor a surplus C、$2, there is a shortage of 6 units D、All of the above are correct简答题If there is a shortage of farm laborers, we would expect A、the wage of farm laborers to increase. B、the wage of farm laborers to decrease. C、the price of farm commodities to decrease. D、a decrease in the demand for substitutes for farm labor.简答题Which of the following is a determinant of the market supply curve but not a determinant of an individual seller's supply? A、Production technology. B、Expectations. C、Input prices. D、The number of sellers.简答题If a good is inferior, then an increase in income will result in ______. A、an increase in the demand for the good B、a decrease in the demand for the good C、a movement down and to the right along the demand curve for the good D、a movement up and to the left along the demand curve for the good简答题What would happen to the equilibrium price and quantity of coffee if the wages of coffee-bean pickers fell and the price of tea fell? A、Price would fall, and the effect on quantity would be ambiguous （不确定）.. B、Price would rise, and the effect on quantity would be ambiguous. C、Quantity would fall, and the effect on price would be ambiguous. D、Quantity would rise, and the effect on price would be ambiguous.简答题Equilibrium quantity must decrease when demand ______. A、increases and supply does not change, when demand does not change and supply decreases, and when both demand and supply decrease B、increases and supply does not change, when demand does not change and supply increases, and when both demand and supply decrease C、decreases and supply does not change, when demand does not change and supply increases, and when both demand and supply decrease D、decreases and supply does not change, when demand does not change and supply decreases, and when both demand and supply decrease简答题Each of the following is a determinant of demand except ______. A、tastes B、production technology C、expectations D、the prices of related goods多选题The following table contains a demand schedule for a good. If the law of demand applies to this good, then Q1 could be ______. A、0 B、100 C、200 D、400简答题If scientists discover that steamed milk, which is used to make lattés, prevents heart attacks, what would happen to the equilibrium price and quantity of lattés? A、Both the equilibrium price and quantity would increase. B、Both the equilibrium price and quantity would decrease. C、The equilibrium price would increase, and the equilibrium quantity would decrease. D、The equilibrium price would decrease, and the equilibrium quantity would increase.简答题Wheat is the main input in the production of flour. If the price of wheat decreases, then we would expect the ______. A、demand for flour to increase B、demand for flour to decrease C、supply of flour to increase D、supply of flour to decrease简答题Most markets in the economy are ______. A、markets in which sellers, rather than buyers, control the price of the product B、markets in which buyers, rather than sellers, control the price of the product C、perfectly competitive D、highly competitive多选题If the price is $25, then there would be an excess ______. A、supply of 100 units, and price would fall. B、supply of 300 units, and price would fall. C、demand of 100 units, and price would fall. D、demand of 300 units, and price would fall.简答题The unique point at which the supply and demand curves intersect is called ______. A、market harmony B、coincidence C、equivalence D、equilibrium简答题Suppose that demand for a good increases and, at the same time, supply of the good decreases. What would happen in the market for the good? A、Equilibrium price would decrease, but the impact on equilibrium quantity would be ambiguous. B、Equilibrium price would increase, but the impact on equilibrium quantity would be ambiguous. C、Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous. D、Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous.