Question 9 {it mars) "LLS. consumer prices increased solidly in September as Americans paid more for food. rent and a range of other goods. putting pressure on the Biden administration to urgently resolve strained supply chains. which are hampering economic growth.\" Accessed: tdrttim By denition, demand is the quantity of goods... a. desired by consumers. o. ordered by consumers in a particular period. c. consumers are willing and able to buy at particular prices in a pertain period. d. that consumers want to buy Question 1t) {4 mails) "Consumer condence nose-dives amid... supply chain problems' inrhich panel of Figure 1.3 illustrates 'supply chain problems\" alongside a decrease in consumer condence? Figure 1.3 "As the economy picks up, demand for many inputs is outstripping supply, driving up prices for things as diverse as construction materials, energy, food ingredients, and semiconductors. Soon, that list will include Office 365 subscriptions. You might not have heard about it from your sales rep yet, but Microsoft quietly announced that starting March 1, 2022, it will hike the price of many of its enterprise Office 365 and Microsoft 365 subscriptions. (Consumer and education subscription prices aren't changing - for now.)' Source: https:/www.cio.com/article/3634389/microsofts-office-365-price-increases-how-to-reduce-the-hit.html Accessed: 14/10/21 An increase in the price of Office 365 subscriptions above the equilibrium will... a. Shift the Office 365 subscriptions' supply curve to the right. b. Shift the Office 365 subscriptions' demand curve to the right. c. Cause a surplus of Office 365 subscriptions. d. Cause a shortage of Office 365 subscriptions. Question 12 (4 marks) There is an increase in the number of adverts highlighting the danger of consuming sugar. Which of the following is likely to occur in the market for sugarless sweets, as a result of this? a. An increase in both the equilibrium price and quantity traded. b. A decrease in equilibrium price and an increase in equilibrium quantity traded. c. A decrease in both the equilibrium price and quantity traded. d. An increase in the equilibrium price and a decrease in the equilibrium quantity traded. Question 13 (4 marks) If the price elasticity of demand is 2.0, and a firm raises its price by 10 percent, the total revenue will.. a. Not change. b. Fall by an undeterminable amount given the information available. c. Rise. d. Fall by 20 percent