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15. Which one of the following would result in a movement from point a to point b in Figure 4.1? → A) A decrease in the price of apples. B) An increase in the price of oranges. C) An increase in population size. Public concern about chemicals sprayed on apples. E) None of the above. D

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Related questions

1, Eggs and bacon are complements. A decrease in the price of eggs would cause which of the following in the market for bacon?


a) The equilibrium price and quantity of bacon would increase.

b) The equilibrium price and quantity of bacon would decrease.

c) The equilibrium price and quantity of bacon would increase and the equilibrium quantity would decrease.

d) The equilibrium price of bacon would decrease and the equilibrium quantity would increase.


2) A movement to along the demand curve to the right may be caused by


a) a rise in income

b) an increase in supply

c) a fallin the price of a substitute good.

d) a rise in the price of inputs


3) Apples and organes are substitute goods. A freeze in Florida destroyed a good portion of orange crop. Ceteris Paribus


a) the price of both apples and oranges will increase

b) the price of both apples and oranges will fall

c) the price of oranges will increase and the price of apples will fall

d) the price of oranges will fall and the price of apples will increase

Which of the following is the best example of an automatic stabilizer.

a. Joe buys fewer apples and more oranges due to an increase in the price of apples.

b. Joe buys more apples when his income increases.

c. Joe buys an apple slicer when the price of apples decreases

d. Joe buys less sugar as a result of an increase in the price of apples  

Figure 4.1 Price (dollors per apple) 4 9 12 Quantity (thousands of apples per week) 14. Point a in Figure 4.1 indicates that A) $1 is the least that consumers are willing to pay for the 4,000th apple. B) consumers will not be in equilibrium if the price of an apple is $1. consumers will only pay $1 for any apple. 7 D) if the price is $1, consumers will plan to buy 4,000 apples. E) all of the above.

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