Which of the following events would cause the supply curve to shift to the right?

Econ 221 MC Quiz 3b WS04

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Which of the following events can cause the supply curve to shift to the right?
Which of the following will cause the supply curve to shift to the right quizlet?
When the supply curve shifts to the right quizlet?
What are five things that will shift a supply curve to the right quizlet?

Which of the following could cause a long-run shift in demand as part of the "guiding function of price"?

A.	a change in tastes and preferences

B.	an increase in price caused by a shift in supply

C.	income shift caused by an economic recession

D.	an increase in number of buyers

2.	What is the equilibrium quantity in this market?

3.	Suppose demand is expressed as QD = 300 - 50P. If we want to make this equation consistent with the typical supply and demand diagram, this equation must be stated as:

The supply curve for 35mm camera film would shift up and to the left with which of the following events?

A.	an increase in the price of 35mm camera film

B.	a decrease in the price of 35mm camera film

C.	the imposition of an excise tax on 35mm film

D.	an increase in the number of producers of 35mm camera film

E.	an increase in the price of 35mm cameras

Suppose that the demand curve for cigarettes slopes downward and that the supply curve for cigarettes slopes upward, as usual. The excise tax on cigarettes rises from $.16 per pack to $.32 per pack. Which of the following statements about the resulting new equilibrium price of cigarettes is correct?

A.	It will not rise at all.

B.	It will rise by more than $.16 per pack.

C.	It will rise by exactly $.16 per pack.

D.	It will rise by less than $.16 per pack.

E.	It will fall because stores will cut prices to keep customers.

"Excess supply"

A.	refers to a market disequilibrium where the quantity demanded is greater than the quantity supplied.

B.	refers to a market disequilibrium where the quantity supplied is greater than the quantity demanded.

C.	refers to a market equilibrium where the quantity supplied is greater than the quantity demanded.

D.	refers to a market equilibrium where the quantity supplied is greater than the quantity demanded.

If the relative price of gasoline rises, then all other things equal, consumers

A.	are wealthier and drive less.

B.	are wealthier and buy more gasoline.

C.	are poorer and buy less gasoline.

D.	are poorer and drive more.

E.	are poorer and buy more gasoline.

Which of the following would cause a short run decrease in the quantity supplied of personal computers?

A.	the price of workstations decreases.

B.	the price of PC software decreases.

C.	the number of PC manufacturers decreases.

D.	the cost of manufacturing PCs decreases.

Consider Michael's monthly demand for tacos: qd = 5 - 2.5P + 1Ph - 2Pm + 2Inc, where P is the price of tacos, Ph is the price of hamburgers, and Pm is the price of a movie. All prices are in cents. Monthly income in thousands of dollars is represented by Inc. For Michael, what is the relationship between tacos and the other goods?

A.	impossible to tell given the information

B.	tacos and hamburgers are complements; tacos and movies are complements

C.	tacos and hamburgers are substitutes; tacos and movies are substitutes

D.	tacos and hamburgers are complements; tacos and movies are substitutes

E.	tacos and hamburgers are substitutes; tacos and movies are complements

10.

Which of the following would indicate that price is temporarily below its market equilibrium?

A.	There are a number of producers who are left with unwanted inventories.

B.	There are a number of customers who must be placed on waiting lists for the product.

C.	Firms decide to leave the market.

D.	The government must step in and subsidize the product.

This is the end of the test. When you have completed all the questions and reviewed your answers, press the button below to grade the test.

Which of the following events can cause the supply curve to shift to the right?

A technological improvement that reduces costs of production will shift supply to the right, causing a greater quantity to be produced at any given price.

Which of the following will cause the supply curve to shift to the right quizlet?

Which of the following will occur when there is a decrease in the input costs of production? The supply curve shifts to the right. Firms will be more willing to supply goods to the market if the costs of production are lower. This leads to a higher quantity supplied at every price.

When the supply curve shifts to the right quizlet?

when a supply curve shifts to the right, it indicates that supply has increased due to one of the eight possible factors. when supply has shifts to the left, it indicates that the supply has decreased.

What are five things that will shift a supply curve to the right quizlet?

Terms in this set (5).

Input/Resource Prices. Input prices and supply move opposite..

Technology. The production process of changing economic resources into goods and services. ... .

Taxes. Taxation and supply move opposite..

Expectation of Future Prices. ... .

Number of Sellers..

Which of the following events would cause the supply curve to shift to the right?

Which of the following events can cause the supply curve to shift to the right?

Which of the following will cause the supply curve to shift to the right quizlet?

When the supply curve shifts to the right quizlet?

What are five things that will shift a supply curve to the right quizlet?

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