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QUESTION 13 Suppose that you experience a decrease in your income, which results in an increase in demand for good A. Good A is then... O A normal good. O An inferior good. O A substitute good. A complementary good.QUESTION 15 Suppose that the price of good A increases, which results in a decrease in your demand for O Normal goods. O Inferior goods. O Substitute goods. O Complementary goods. QUESTION 16 Suppose that you experience a decrease in your income, which results in an decrease in dem then... A normal good. An inferior good. A substitute good. Cannot be determined.QUESTION 18 Consider this cost structure for a firm Quantity Total Costs FNM Suppose the price of the product that the firm produces is P-5. How much will the firm choose to produce in order to maximize profits? N 0 0 0 in vers to save all answers.QUESTION 17 Equilibrium in a market is the unique situation where... Both firms and consumers are being efficient. There may be a shortage, but certainly not a surplus. O There is no shortage or surplus. ()Firms have chosen to sell their product at a price that gives them the most profit possible.QUESTION 19 Consider this cost structure for a firm Quantity Total Costs maximize profits? Suppose the price of the product that the firm produces is P=10. How much will the firm choose to produce in order to O 00 0 IN m answers. Save ARQUESTION 20 Compare your answers to questions 19 and 20. This is an example of: O The law of supply. O Comparative advantage. The market economy. Production efficiency