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ECO 561 CHAPTER 2 QUIZ
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Download answer at http://www.examtutorials.com/course/eco-561-chapter-2-quiz/
<b>Question 1</b> The equilibrium $price is ___ and the equilibrium quantity is ___. Correct: $4, as well as 100 pet rocks. ------------------------------------------------------------------- <b>Question 2</b> At what price would there be an excess demand of 125? Correct: $1.50 ------------------------------------------------------------------- <b>Question 3</b> If the supply curve shifts to the left, which of the following will be true? Correct: At the first equilibrium price there will now be additional requirement ------------------------------------------------------------------- <b>Question 4</b> If the government sets a ceiling price of $3, which of the following is not likely to happen. Correct: There will be a reduction in the number of pet rocks required. ------------------------------------------------------------------- http://www.examtutorials.com/course/eco-561-chapter-2-quiz/Download answer at https://www.examtutorials.com/course/eco-561-chapter-2-quiz/ <b>Question 1</b> The equilibrium $price is ___ and the equilibrium quantity is ___. Correct: $4, as well as 100 pet rocks. ------------------------------------------------------------------- <b>Question 2</b> At what price would there be an excess demand of 125? Correct: $1.50 ------------------------------------------------------------------- <b>Question 3</b> If the supply curve shifts to the left, which of the following will be true? Correct: At the first equilibrium price there will now be additional requirement ------------------------------------------------------------------- <b>Question 4</b> If the government sets a ceiling price of $3, which of the following is not likely to happen. Correct: There will be a reduction in the number of pet rocks required. ------------------------------------------------------------------- https://www.examtutorials.com/course/eco-561-chapter-2-quiz/ |
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