Question 19(1 point)

Question 19 options:

Consider the market for laptops in 2015. Between 2015 and 2016, the equilibrium price of laptops remained constant, but the equilibrium quantity of laptops increased. From this, you can conclude that between 2015 and 2016, the supply of laptops

and the demand for laptops

. (Note: write either increased or decreased for each fill-in-the-blank question.)

Question 20(1 point)

Goods A and B are complementary goods (in consumption). The cost of a resource used in the production of A decreases. As a result, which of the following will happen?

Question 20 options:

a)	The equilibrium price of B will fall, and the equilibrium price of A will rise.

b)	The equilibrium prices of both A and B will rise.

c)	The equilibrium price of B will rise, and the equilibrium price of A will fall.

d)	The equilibrium prices of both A and B will fall.

Question 21(1 point)

When the price is below the equilibrium price, the quantity demanded is ______________, and the quantity supplied __________________________.

Question 21 options:

a)	is less than the equilibrium quantity; exceeds the equilibrium quantity

b)	more than the equilibrium quantity; is less than the equilibrium quantity

c)	more than the equilibrium quantity; exceeds the equilibrium quantity

d)	less than the equilibrium quantity; is less than the quantity supplied

Question 22(1 point)

Which of the following correctly describes how price adjustments eliminate a shortage?

Question 22 options:

a)	As the price falls, the quantity demanded increases while the quantity supplied decreases.

b)	As the price rises, the quantity demanded decreases while the quantity supplied increases.

c)	As the price falls, the quantity demanded decreases while the quantity supplied increases.

d)	As the price rises, the quantity demanded increases while the quantity supplied decreases.

Question 23(1 point)

S 10 Price (dollars) 8 6 ..................................c..........: 4 2 D 0 100 200 300 400 500 600 Quantity