Market

A. A higher equilibrium price and output
B. A lower equilibrium price and higher output
C. A lower equilibrium price and output
D. A higher equilibrium price and lower output

A. Lead to a movement along the supply curve
B. Shift the demand curve
C. Shift the supply curve
D. Lead to an extension of supply

A. An fall in demand
B. An increase in supply
C. improvements in production technology
D. An increase in demand

A. A change in income
B. A change in the number of buyers
C. A change in advertising
D. A shift in supply

A. A change in technology
B. A change in the number of producers
C. A shift in demand
D. A change in costs

A. The price consumers are willing to pray for a unit
B. The cost of providing a unit
C. The profits made by a firm
D. The difference the price a consumer pays for an item and the price he/she is willing to pay

A. The price elasticity of supply is price inelastic
B. The price elasticity of supply is price elastic
C. The price elasticity of supply is perfectly elastic
D. The price elasticity of supply is infinity

A. The price elasticity of supply is – 3
B. The price elasticity of supply is – 0.2
C. The price elasticity of supply is – 2
D. The price elasticity of supply is infinity

A. Increase equilibrium price and quantity
B. Decrease equilibrium price and quantity
C. Increase equilibrium price and decrease quantity
D. Decrease equilibrium price and increase quantity

A. Be under provided in the free market
B. Be over provided in the free market
C. Not be provided in the free market
D. Has no opportunity cost