6. Which of the following will increase the supply of OkraCoke?

Select one:

a. A decrease in the cost of an important resource used in producing OkraCoke.

b. The imposition of a per-unit tax on OkraCoke.

c. An increase in consumers' income (if OkraCoke is a normal good).

d. An increase in the price of OkraCoke.

7. The market for roller blades is in equilibrium.Now an effective price floor is established.Considering the demand and supply diagram for the roller blade market, we would predict

Select one:

a. a surplus of roller blades and no change in supply.

b. a shortage of roller blades and an increase in supply.

c. a shortage of roller blades and no change in supply.

d. a surplus of roller blades and an increase in supply.

8. Coke and Pepsi are substitutes.Which of the following will not cause the demand curve for Pepsi to shift?

Select one:

a. A decrease in the price of Coke.

b. An increase in the price of Pepsi.

c. A greater preference for Pepsi relative to Coke.

d. An increase in the price of Coke.

9. When there is a surplus, quantity supplied _________ quantity demanded.Price will ________.

Select one:

a. is less than; rise

b. exceeds; fall

c. exceeds; rise

d. is less than; fall

10. Diet OkraCoke and OkraCoke are soft drinks that are consumption substitutes.Sugar is an ingredient in OkraCoke but it is not an ingredient in Diet OkraCoke.A large increase in the price of sugar will result in

Select one:

a.an increase in the price of OkraCoke and an increase in the price of Diet OkraCoke.

b.an increase in the price of Diet OkraCoke and a decrease in the price of OkraCoke.

c.an increase in the price of OkraCoke but no change in the price of Diet OkraCoke.

d.an increase in the price of OkraCoke and a decrease in the price of Diet OkraCoke.