Shifts and Equilibrium Formative
By Jeffrey See
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Last updated over 4 years ago
10 Questions
1
1.
Examine the image above. Which of the following best describes the impact of a decrease in demand on market clearing price and equilibrium quantity?
Examine the image above. Which of the following best describes the impact of a decrease in demand on market clearing price and equilibrium quantity?
SSEMI2.f
SSEMI2.d
1
2.
Which of the following events could cause the shift shown in the graph above. Assume this is the market for oranges.
Which of the following events could cause the shift shown in the graph above. Assume this is the market for oranges.
SSEMI2.f
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3.
Examine the image above. Which of the following results from an increase in demand?
Examine the image above. Which of the following results from an increase in demand?
SSEMI2.f
SSEMI2.d
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4.
Assume that the graph above shows a change in the market for smoothies. Which of the following events could have caused the shift shown?
Assume that the graph above shows a change in the market for smoothies. Which of the following events could have caused the shift shown?
SSEMI2.f
1
5.
Using the graph above, how does an increase in supply affect market clearing price and equilibrium quantity?
Using the graph above, how does an increase in supply affect market clearing price and equilibrium quantity?
SSEMI2.c
SSEMI2.d
SSEMI2.e
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6.
Assume that the graph above shows a change in the market for cheese puffs. Which of the following could cause the change in the market shown above?
Assume that the graph above shows a change in the market for cheese puffs. Which of the following could cause the change in the market shown above?
SSEMI2.d
SSEMI2.e
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7.
Rain is predicted in Georgia over the next month and that people prefer to have adequate rain gear to keep dry. Which of the following best describes the impact the rain will have on the market for rain coats?
Rain is predicted in Georgia over the next month and that people prefer to have adequate rain gear to keep dry. Which of the following best describes the impact the rain will have on the market for rain coats?
SSEMI2.f
1
8.
Assume that better technology enables faster production of electric vehicles.Which of the following will likely happen to the price and quantity of electric vehicles?
Assume that better technology enables faster production of electric vehicles.
Which of the following will likely happen to the price and quantity of electric vehicles?
SSEMI2.e
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9.
From 2017 to 2018, the price of a coffee from "Beans-N-More" decreased by $0.50. The equilibrium quantity that "Beans-N-More" sold increased by 2000 cups per year. Which of the following explains the impact on market clearing price and equilibrium quantity for "Beans-N-More"?
From 2017 to 2018, the price of a coffee from "Beans-N-More" decreased by $0.50. The equilibrium quantity that "Beans-N-More" sold increased by 2000 cups per year. Which of the following explains the impact on market clearing price and equilibrium quantity for "Beans-N-More"?
SSEMI2.e
1
10.
Kara sells energy drinks. Last month, she saw the the market clearing price and the quantity of drinks that she sold both fell. What could best explain this change in price and quantity?
Kara sells energy drinks. Last month, she saw the the market clearing price and the quantity of drinks that she sold both fell. What could best explain this change in price and quantity?
SSEMI2.f