Question : 20) Using the data in the table above, the equilibrium : 1240810

 

 

 

20) Using the data in the table above, the equilibrium quantity and equilibrium price for a stapler is

A) 10,000 and $8.

B) 90,000 and $8.

C) 100,000 and $5.

D) 70,000 and $6.

E) 60,000 and $5.

 

21) Using the data in the table above, if the price of a stapler is $8, then there is ________ of staplers and the quantity of staplers demanded ________ the quantity of staplers supplied.

A) a surplus; is greater than

B) a surplus; is less than

C) a shortage; is greater than

D) a shortage; is less than

E) neither a surplus nor a shortage; equals

 

22) Using the data in the table above, if the price of a stapler is $5, then there is ________ of staplers, and the quantity of staplers demanded ________ the quantity of staplers supplied.

A) a surplus; is greater than

B) a surplus; is less than

C) a shortage; is greater than

D) a shortage; is less than

E) neither a surplus nor a shortage; equals

23) In the figure above, a price of $35 per dozen roses results in

A) a shortage.

B) equilibrium.

C) a surplus.

D) upward pressure on the price of roses.

E) an eventual rightward shift of the demand curve and/or leftward shift of the supply curve.

 

24) In the figure above, a price of $15 per dozen roses results in

A) equilibrium.

B) a shortage.

C) a surplus.

D) downward pressure on the price of roses.

E) an eventual leftward shift of the demand curve and/or rightward shift of the supply curve.

 

25) The above figure shows the market for game day t-shirts. If the price of t-shirts is $8, then

A) there is a shortage and the price of t-shirts will rise.

B) there is a surplus and the price of t-shirts will rise.

C) the market is in equilibrium.

D) there is a shortage and the price of t-shirts will fall.

E) there is a surplus and the price of t-shirts will fall.

 

26) The above figure shows the market for game day t-shirts. If the price of t-shirts is $10, then

A) there is a surplus and the price of t-shirts will rise.

B) there is a shortage and the price of t-shirts will rise.

C) there is a shortage and the price of t-shirts will fall.

D) there is a surplus and the price of t-shirts will fall.

E) the market is in equilibrium.

27) The above figure shows the market for game day t-shirts. If the price of t-shirts is $12, then

A) there is a shortage and the price of t-shirts will fall.

B) there is a shortage and the price of t-shirts will rise.

C) there is a surplus and the price of t-shirts will rise.

D) there is a surplus and the price of t-shirts will fall.

E) the market is in equilibrium.

 

28) The above figure shows the market for game day t-shirts. If the price of t-shirts is $8, then

A) the market is in equilibrium.

B) there is a surplus and the price of t-shirts will rise.

C) the quantity demanded is greater than quantity supplied.

D) there is a shortage and the price of t-shirts will fall.

E) there is a surplus and the price of t-shirts will fall.

 

29) Assume a competitive market is in equilibrium. There is an increase in demand, but no change in supply. As a result, the equilibrium price ________, and the equilibrium quantity ________.

A) rises; increases

B) rises; does not change

C) falls; does not change

D) falls; decreases

E) falls; increases

 

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more