1/ When quantity demanded decreases in response to a change in price:

Group of answer choices :

a/ the demand curve shifts to the right.

b/ the demand curve shifts to the left.

c/ there is a movement down along the demand curve.

d/ there is a movement up along the demand curve.

2/ If a firm faces _____________________, while the prices for the output the firm produces remain unchanged, a firm's profits will increase.

Group of answer choices

a/ higher demand

b/lower costs of production

c/ equilibrium

d/ a shift in demand

3/ A severe freeze has once again damaged the Florida orange crop. The impact on the market for orange juice will be a leftward shift of:

Group of answer choices

a/ the supply curve.

b/ the demand curve, as consumers try to economize because of the shortage

c/ the supply and demand curves.

d/ the supply curve and a rightward shift of the demand curve, resulting in a higher equilibrium price.

4/ If movie theatres decided to increase the price for the movie tickets, holding other factors constant, what would happen to the demand for popcorn in the theatres?

Group of answer choices

a/the demand for popcorn would shift to the left because popcorn and movies are complementary goods.

b/ the demand for popcorn would shift to the left because popcorn and movies are substitute goods.

c/ the demand for popcorn would shift to the right because popcorn and movies are substitute goods.

d/ the demand for popcorn would shift to the right because popcorn and movies are complementary goods.

5/ The change in any factor other than ________ would shift the demand curve

Group of answer choices

a/ Interest rate

b/ Price

c/ Weather

d/ All of the above.

6/ A decrease in the price of a substitute shifts the demand curve to the _______.

Group of answer choices

a/ It does not change the demand curve

b/ Right

c/ Left

d/ None of the above

7/ An increase in income causes the demand for inferior goods to_____________ and the price of inferior goods to ____________.

Group of answer choices

a/ Increase; increase

b/ Increase; decrease

c/ Decrease; increase

d/ Decrease; decrease

8/ How does an increase in the price of laptop memory chips affect the market of laptops?

Group of answer choices :

a/ The demand curve for laptops shifts to the left

b/ The demand curve for laptops shifts to the right

c/ The supply curve for laptops shifts to the left

d/ The supply curve for laptops shifts to the right

9/ A sudden rise in the market demand in a competitive industry leads to ---------------

Group of answer choices :

a/ A short run market equilibrium price higher than the original equilibrium

b/ A market equilibrium lower than the short run price

c/ Entry of new firms into the market

d/ All of the above