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Supply Quiz 2 (25 MCQs)

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1. If a 4% increase in price leads to a increase in the quantity supplied of 8%?A. Supply is price elasticB. Supply is income elasticC. Price elasticity of demand is-2D. Price elasticity of supply is-2
2. Self check out counters are just one of the factors that can shift the supply curve.
3. How does new technology affect supply?
4. What might cause the supply curve to shift right?
5. New technology produces coca-cola cans twice as fast. How would this affect the supply of coca-cola cans?
6. When employees are getting in each others way, the firm is operating
7. When the selling price of a good goes down, what happens to the quantity supplied?
8. Which government tool can cause changes in supply levels and force the supply curve to shift?
9. When the price of the product changes and has an affect on supply, makes it an _____ supply.
10. How are price ceilings and price floors similar?
11. Subsides from the government _____
12. _____ is the result of quantity supplied being greater than quantity demanded
13. The total cost of production is determined by?
14. What will cause a decrease in supply for "oranges" ?
15. When a good's price changes and we show that by moving from one point to another on the supply curve, we call that
16. What happens when the price of automobiles increases?
17. According to the law of demand, when the price of pizza goes up which of the following will occur?
18. Which of the following goods would be considered a complement to flashlights in the context of a demand for goods?
19. Which of the following is an example of government influence on supply?
20. A situation in which resources are distributed according to price
21. Inferior goods react _____ to income shifts.
22. If the number of firms in a particular market decreases, supply will
23. The price at which the quantity demanded by consumers equals the quantity suppled by the producers is know as what?
24. The price of home computers rises. According to the law of supply, manufactures will respond to this price increase
25. How do subsidies help producers?
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