question 1

Which of the following will cause movement along the demand curve? The price of Brand A orangejuice decreases, so the price of Brand B orangejuice decreases. The price of salt goes down, so the price of black pepper goes up. 0 The market price ofa pound of beef increases from $5 to $7. 0 The number of consumers who eat beef decreases. If the price of gasoline is too low and vendors sell out quickly, which of the following will happen next? 0 Consumers will purchase more gasoline. O Producers will lower the price of gasoline. O The price of gasoline will rise to eliminate the shortage. O Consumers will purchase less gasoline. If an excise tax is imposed on a product, which of the following will happen? The higher price will cause consumers to purchase more of the product. 0 The price will fall until it reaches equilibrium. 0 The supply curve will shift upward by the amount of the tax. 0 A shortage will occur