QUESTION 4 Chapter 04 MC Sections 1-3-129: As long as all other factors that aff
ID: 1139589 • Letter: Q
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QUESTION 4 Chapter 04 MC Sections 1-3-129: As long as all other factors that affet buyers' and sellers decisions are unchanged, when the price of a good rises, the o a. quantity demanded of the good increases b.supply increases. c. quantity supplied of the good increases. d. demand curve shifts to the left. QUESTION 5 The quantity of ice-cream supplied by Ben depends on: athe weather. When it is hotter, there are more buyers and, consequently, Ben sells more ice-cream. D. the price that all other ice-cream sellers are charging. Ben tends to produce more when this prevailing market price is high O c. the price of the raw materials that Ben needs to make ice-cream and the wage that Ben has to pay his employees. When these prices rise. the quantity of ice-cream supplied by Ben tends to increase. d the general health of the overall economy. Ben tends to sell more ice-cream when his customers are doing well in economic terms. QUESTION6 The quantity supplied of a good is negatively (that is, inversely) related to the O a. prices of the raw materials and labor used to make the good. demand for the good from consumers. price of the good itself. d.amount of profit a firm can expect to receive from selling the goodExplanation / Answer
Answer 4 : option C is corret as price of the good changes other factor remain the same then quantity supplied of a good have been increased. As seller has an initiative to sell more of goods at Higher price.
Answer 5 : option B is correct. As quantity of ice - cream supplied by ben depend upon the prices that other ice - cream other seller are charging. Ben tend to produce more when their prevailing market price is higher.
Answer 6 : Option A is correct. The quantity supplied of a good is negative related to the price of raw material and Labour used to make the good as price of labour and raw material increases than the quantity supply production of a product decreases there is a negative relationship between quantity supply of a product and the increase in the price of raw material and Labour as they are the input factor in the production of good.
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