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Question 19 Refer to the information provided in Table 1 below to answer the following questions. Table 1. Krystal Mark Writing Poems 18 12 Writing TV Commercials No 14 Refer to Table 1. For Mark, the opportunity cost of writing one TV commercial is O 2 poems. 8 poems. 3 poems. O 1/3 of a poem. . PreviousQuestion 20 Refer to the information provided in Table 1 below to answer the following questions. Table 1. Krystal Mark Writing Poems CO 12 Writing TV Commercials 2 Refer to Table 1. Which of the following statements is TRUE? O Krystal has a comparative advantage in both writing TV commercials and writing poems. Mark has a comparative advantage in writing TV commercials, and Krystal has a comparative advantage in writing poems. Mark has a comparative advantage in both writing TV commercials and writing poems. Krystal has a comparative advantage in writing TV commercials, and Mark has a comparative advantage in writing poems. PreviousRefer to the information provided in Figure 1. below to answer the questions that follows. YA Panel A YA Panel B XY Y Panel C YA Panel D Figure 1. Refer to Figure 1. Which of the curves has a slope that is positive and increasing? OA OC OD O BQuestion 5 Refer to the information provided in Figure 2 below to answer the following questions. $4 Price 0 Number of gardenburgers Figure 2 Refer to Figure 2. A movement from Point C to Point B on supply curve S2 would be caused by a(n) O decrease in the price of hamburgers, assuming hamburgers are a substitute for pizza. decrease in the price of gardenburgers. decrease in the price of mushrooms. increase in the demand for gardenburgers.Question 3 Refer to the information provided in Figure 1 below to answer the following questions. Price of pizza O Number of pizzas per week Figure 1 Refer to Figure 1. A decrease in quantity supplied is represented by a movement from Point B to Point C along supply curve $2. O S2 to S3. O Point B to Point A along supply curve $2. O S2 to $1.Question 7 Refer to the information provided in Table 1. below to answer the questions that follow. Table 1. Price per Pizza Quantity Demanded Quantity Supplied (Pizzas per Month) (Pizzas per Month) $3 1,200 500 1,000 700 800 800 12 600 900 15 400 1,000 Refer to Table 1. If the price per pizza is $6, there is an excess O supply of 1,000 pizzas. demand of 300 pizzas. O demand of 600 pizzas. supply of 700 pizzas.Question 23 Refer to the information provided in Table 3 below to answer the questions that follow. Table 3 Price per Quantity Demanded Quantity Supplied Cheeseburger (Cheeseburgers per Month) (Cheeseburgers per Month) $5 1,500 500 1,200 700 900 900 600 1,100 300 1,300 Refer to Table 3. If the price per cheeseburger is $6, the price will O remain constant because the market is in equilibrium. O decrease because there is an excess supply in the market. decrease because there is an excess demand in the market. increase because there is an excess demand in the market.Question 20 Refer to the information provided in Figure 5. below to answer the questions that follow. Price (S) X Q Sunglasses Figure 5. Refer to Figure 5. At a price of $30, there is an excess O demand of 750 sunglasses. O demand of 300 sunglasses. supply of 300 sunglasses. demand of 450 sunglasses.Question 8 Refer to the information provided in Table 1. below to answer the questions that follow. Table 1. Price per Pizza Quantity Demanded Quantity Supplied Pizzas per Month) (Pizzas per Month) $3 1,200 600 1,000 700 800 800 12 600 900 15 400 1,000 Refer to Table 1. If the price per pizza is $15, there is a(n) O excess demand of 400 units. O excess demand of 900 units. O excess supply of 600 units. market equilibrium.Question 14 Refer to the information provided in Figure 3. below to answer the following questions. $4 Price of pizza B C D1 D2 0 Number of pizzas per month Figure 3. Refer to Figure 3. A decrease in demand is represented by the movement O along D2 from Point B to Point C. O along D2 from Point B to Point A. O from D2 to D3. O from D2 to D1.Question 22 Refer to the information provided in Figure 6. below to answer the questions that follow. Price 3 1.50 D 100 150 250 350 400 Q Millions of pounds of burritos Figure 6. Refer to Figure 6. The market is initially in equilibrium at Point B. If demand shifts from D2 to D1, the new equilibrium price will be and the new equilibrium quantity will be O $3.00; 250 O $4.00; 350 $3.00; 400 O $4.00; 150
