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Homework answers / question archive / Appalachian State University ECO 2040 Quiz 2: Demand and 1)Which of the diagrams illustrates the effect of an increase in automobile worker wages on the market for automobiles? 2
2. A leftward shift of a product supply curve might be caused by:
3. An increase in product price will cause:
4. Assume in a competitive market that price is initially above the equilibrium level. We can predict that price will:
5. If the consumer incomes increase, the demand for product X:
6. If the demand curve product B shifts to the right as the price of product A declines, then:
7. If the supply and demand curves for product both decrease, then equilibrium:
8. If there is a shortage of product X, and the price is free to change:
9. In the past few years, the demand for donuts has greatly increased. This increase in demand might be best explained by:
10. One can say with certainty that equilibrium price will decline when supply:
11. Other things equal, if the price of a key resource used to produce product X falls, the:
12. The demand curve shows the relationship between:
13. Which of the following will cause a decrease in market equilibrium price and an increase in equilibrium quantity?
14. Which of the following will cause the demand curve for product A to shift to the left?
15. Which of the following would not shift the demand curve for beef?
