1.) If the price of a factor of production decreases, ceteris paribus, the suppliers of that factor will respond by

Group of answer choices

changing the quality

increasing the quantity available

increasing the productivity

decreasing the productivity

decreasing the quantity available

2.) The quantity of labor demanded is ________ related to the wage rate, while the quantity of labor supplied is ________ related to the wage rate, ceteris paribus.

Group of answer choices

positively; positively

negatively; positively

positively; negatively

negatively; negatively

negatively; not

3.) The price of a product that a machine will produce increases, ceteris paribus. What will this do to the demand for this machine?

Group of answer choices

Demand for the machine will increase.

Demand for the machine will decrease.

There will be no change in demand for the machine.

Demand will not change, but quantity demanded will decrease.

Demand will not change, but quantity demanded will increase.

4.) Use the graph to answer the question that follows.