Demand Quiz
1.
Which of the following would not shift the demand curve for beef?
A. a widely publicized study which indicates beef increases one's cholesterol
B. a reduction in the price of pig feed
C. an effective advertising campaign by beef producers
D. a change in the incomes of pork consumers
2. If the price of A declines, the demand curve for the complementary product B
will:
A. shift to the left.
B. decrease.
C. shift to the right.
D. remain unchanged.
3. A firm's supply curve is upsloping because:
A. the expansion of production necessitates the use of qualitatively inferior inputs.
B. mass production economies are associated with larger levels of output.
C. consumers envision a positive relationship between price and quality.
D. beyond some point the production costs of additional units of output will rise.
4. All the following shift the demand curve for automobiles to the right except:
A. the local factory gives a big raise to its employees.
B. a brand new automobile dealership opens in town.
C. the price of gasoline falls.
D. None of the Above
5. If the cost of computer components falls, then
A. the demand curve for computers shifts to the right.
B. the demand curve for computers shifts to the left.
C. the supply curve for computers shifts to the right
D. the supply curve for computers shifts to the left
6. Refer to the above diagram. The equilibrium price and quantity in this
market will be:
A. $1.00 and 200.
B. $1.60 and 130.
C. $.50 and 130.
D. $1.60 and 290.