Question 13 (1 point} E-I Figure 4-23 Demand X In Figure 4-23, which movement will be caused by changes in income? Question 14 (1 point} E-Il A market will experience a is below equilibrium. when the price is above equilibrium and a when the price 0 shortage, shortage O surplus, surplus O shortage, surplus O surplus, shortage Question 15 (1 point) () Listen If price rises, what happens to quantity demanded for a product? It increases. O It decreases. O It does not change. OUncertain-economic theory has no answer to this question. Question 16 (1 point) Listen If price rises, what happens to demand for a product? It increases. It decreases. O It does not change. OUncertain-economic theory has no answer to this question.Question 17 (1 point} 5: Why does quantity demanded decrease when price increases? O People choose to reduce consumption of the item. O People "drop out" of the market for the item. 0 People nd substitutes for the item. O All of the above are correct. Question 18 (1 point} E 1) Listen I A supply schedule shows I O the "market potential" for a product. O how much producers are willing and able to sell at different prices. O possible combinations of output under different conditions. 0 how much consumers would like to buy at different prices. 0 All of the above are correct. Question 19 (1 point) E-I A decrease in demand will have what effect on equilibrium price and quantity? O Price will increase; quantity will decrease. O Price will decrease; quantity will increase. O Both price and quantity will increase. 0 Both price and quantity will decrease. Question 20 (1 point) E-I Along a supply curve, O supply changes as price changes. O quantity supplied changes as price changes. O supply changes as technology changes. 0 quantity supplied changes as technology changes. Question 21 (1 point) Figure 4-21 mm P: cum-u which price in Figure 4-21 is equilibrium? 0P1 0P2 0P3 Question 22 (1 point) Figure 4-18 F O below $8. 0 between $8 and $6. Question 23 (1 point) Listen Figure 4-4 In Figure 4-4, an increase in population will change demand from DI to D2. O D2 to D1. O D3 to D2. O D3 to D1. Question 24 (1 point) Listen How will an increase in price tend to affect demand? Demand will increase. Demand will decrease. Demand will not change. OUncertain.Question 25 (1 point} E-Il A shift in the demand curve occurs when O suppliers place more goods on the market. O the price of a good rises. O consumers want to buy more or less than before at a given price. O the price of the good falls