31) Other things remaining the same, a right shift in the supply curve will lead to:
A) an increase in the equilibrium price and the equilibrium quantity.
B) a decrease in the equilibrium price and the equilibrium quantity.
C) a decrease in the equilibrium price and an increase in the equilibrium quantity.
D) an increase in the equilibrium price and a decrease in the equilibrium quantity.
32) Other things remaining same, a right shift in the demand curve will lead to:
A) an increase in the equilibrium price and the equilibrium quantity.
B) a decrease in the equilibrium price and the equilibrium quantity.
C) a decrease in the equilibrium price and an increase in the equilibrium quantity.
D) an increase in the equilibrium price and a decrease in the equilibrium quantity.
33) Z is a normal good. The equilibrium price and quantity of Z in the year 2008 was $25 and 60 units, respectively. In 2011, the equilibrium price of Z had increased to $35 and the equilibrium quantity had increased to 70 units. Ceteris paribus, which of the following could explain this change?
A) Shift of the supply curve of Z to the left
B) Shift of the supply curve of Z to the right
C) Shift of the demand curve for Z to the left
D) Shift of the demand curve for Z to the right
34) Z is a normal good. The equilibrium price and quantity of Z in the year 2008 was $25 and 60 units, respectively. In 2011, the equilibrium price of Z had increased to $35 but the equilibrium quantity had decreased to 50 units. Ceteris paribus, which of the following could explain this change?
A) Shift of the supply curve of Z to the left
B) Shift of the supply curve of Z to the right
C) Shift of the demand curve for Z to the left
D) Shift of the demand curve for Z to the right
35) Z is a normal good. The equilibrium price and equilibrium quantity of Z in the year 2008 was $25 and 60 units, respectively. In 2011, the equilibrium price of Z had decreased to $15 and the equilibrium quantity had also decreased to 50 units. Ceteris paribus, which of the following could explain this change?
A) Shift of the supply curve of Z to the left
B) Shift of the supply curve of Z to the right
C) Shift of the demand curve for Z to the left
D) Shift of the demand curve for Z to the right
36) Z is a normal good. The equilibrium price and equilibrium quantity of Z in the year 2008 was $25 and 60 units, respectively. It was seen that, in 2011, the equilibrium price of Z had decreased to $15, but the equilibrium quantity had increased to 70 units. Ceteris paribus, which of the following could explain this change?
A) Shift of the supply curve of Z to the right
B) Shift of the supply curve of Z to the left
C) Shift of the demand curve for Z to the left
D) Shift of the demand curve for Z to the right
37) If the demand and supply curves for a commodity shift to the right by the same amount, then in comparison to the initial equilibrium, the new equilibrium will be characterized by:
A) a higher quantity and price.
B) a lower quantity and a higher price.
C) the same quantity and a lower price.
D) a higher quantity and the same price.
38) If the demand and supply curves for a commodity shift to the right and the shift in demand is greater than the shift in supply, then in comparison to the initial equilibrium, the new equilibrium will be characterized by:
A) a lower price and quantity.
B) a higher price and quantity.
C) the same price and quantity.
D) a higher price and a lower quantity.
39) If the demand and supply curves for a commodity both shift to the left by the same amount, then in comparison to the initial equilibrium, the new equilibrium will be characterized by:
A) a higher price quantity.
B) the same price and a higher quantity.
C) the same price and a lower quantity.
D) a lower price and a higher quantity.
40) If the demand and supply curves for a commodity both shift to the left and the shift in demand is less than the shift in supply, then in comparison to the initial equilibrium, the new equilibrium will be characterized by:
A) the same price and quantity.
B) a higher price and quantity.
C) a higher price and a lower quantity.
D) a lower price and a higher quantity.
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