Please Ans All questions Correctly

Question 1 (1 point) ~/ Saved The supply curve is upward sloping. Question 2 (1 point) Assume the market is com and the price of fertilizer decreases. This results in O an increase in quantity supplied O an increase in supply 0 a decrease in supply O a decrease in quantity supplied Question 3 (1 point) The market is cars. An increase in the price of cars leads to O an increase in quantity supplied 0 a decrease in supply O an increase in supply 0 a decrease in quantity supplied Question 4 (1 point) The number of firms in the market for boats increases. As a result, the supply curve for boats shifts left. Question 5 (1 point) If firms in a given market adopt new technology, O there is an increase in supply O there is a decrease in quantity supplied 0 there is a decrease in supply O there is an increase in quantity supplied Question 6 (1 point) Assume in the state of Washington that a raging fire has destroyed the vast majority of cherry trees. In the market for cherries, we observe 0 an increase in supply O a decrease in supply O a decrease in quantity supplied O an increase in quantity supplied Question 7 (1 point) If the current price is above the equilibrium price in a given market then O the market is in equilibrium 0 a surplus exists O a shortage exists 0 either a surplus or shortage exists Question 8 (1 point) The equilibrium price is best defined as the price at which 0 firms want to supply more goods 0 demand is smaller than supply 0 quantity demand is equal to quantity supplied 0 households want to buy more goods Question 9 (1 point) Which of the following are the equilibrium price and quantity in this market? Price Quantity Demanded Quantity ppiied $10 200 500 8 240 470 6 370 420 4 390 390 2 410 310 0 $10, 200 0 $6, 370 0 $4, 390 0 $2, 310 Question 10 (1 point) An increase in the demand for chocoiate results in O a higher equilibrium price and quantity 0 a higher equilibrium price and a lower equilibrium quantity 0 a lower equilibrium price and quantity 0 a lower equilibrium price and a higher equilibrium quantity