Question :
81) Refer to Table 3-2. The equilibrium price for umbrellas : 1384147
81) Refer to Table 3-2. The equilibrium price for umbrellas is
A) $10.
B) $15.
C) $20.
D) $25.
E) $30.
82) Refer to Table 3-2. What number of umbrellas would actually be purchased if the price in this market were $10?
A) 400
B) 500
C) 550
D) 650
E) 700
83) Refer to Table 3-2. At a price of ________ there would be an excess ________ of umbrellas.
A) $10; supply
B) $20; supply
C) $10; demand
D) $30; demand
E) $20; demand
84) Refer to Table 3-3. The equilibrium price and quantity for overnight parcel delivery in Year 1 is ________ and ________ million parcels.
A) $30; 80
B) $14; 120
C) $22; 115
D) $10; 115
E) $22; 130
85) Refer to Table 3-3. The equilibrium price and quantity for overnight parcel delivery in Year 2 is ________ and ________ million parcels.
A) $10; 100
B) $18; 110
C) $18; 125
D) $22; 115
E) $14; 120
86) Refer to Table 3-3. Which of the following statements describes a likely event in the market for overnight parcel delivery? From Year 1 to Year 2,
A) there was a rise in the price of jet fuel.
B) there was a decrease in consumers’ income.
C) there was an improvement in technology for tracking overnight parcels.
D) the price of regular parcel delivery decreased.
E) the number of suppliers of overnight parcel delivery service increased.
87) Refer to Table 3-3. If the price of overnight parcel delivery in Year 2 is $10, how many parcels will actually be delivered?
A) 100
B) 115
C) 130
D) 145
88) Refer to Table 3-3. Suppose the price of overnight parcel delivery in Year 1 is $22. Which of the following statements is correct? In Year 1
A) there is an excess demand of 15 million deliveries.
B) there is an excess demand of 30 million deliveries.
C) 115 million parcels will be delivered.
D) there is an excess supply of 15 million deliveries.
E) there is an excess supply of 30 million deliveries.
89) Refer to Table 3-3. Which of the following events could explain the change in the market for overnight parcel delivery between Year 1 And Year 2?
A) there was a decrease in the price of jet fuel
B) the price of regular parcel delivery decreased
C) consumer preferences changed toward a desire for overnight delivery
D) the number of suppliers of overnight parcel delivery service increased
E) the government introduced a subsidy for overnight parcel delivery
90) Refer to Table 3-3. Which of the following statements best describes the change in equilibrium price and quantity in this market between Year 1 and Year 2?
A) The demand curve has shifted to the left, the supply curve has shifted to the right; as a result equilibrium price is lower and equilibrium quantity is higher.
B) The demand curve has shifted to the left, the supply curve has shifted to the left; as a result equilibrium price is higher and equilibrium quantity is lower.
C) The demand curve has shifted to the right, the supply curve has shifted to the left; as a result equilibrium price is higher and equilibrium quantity is lower.
D) The demand curve has shifted to the left, the supply curve has shifted to the right; as a result equilibrium price is higher and equilibrium quantity is lower.
E) There is no change in equilibrium price or quantity from Year 1 to Year 2.
or Waypoint 
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