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Economics
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12 Dec 2019

Which of the following statements is false? a. The shift factors for the supply curve are: income, preferences, prices of related goods, the number of buyers, and expectations of future price. b. A change in (own) price changes the quantity supplied of a good. c. A change in demand is graphically represented by a shift in the demand curve. d. A change in quantity demanded is represented by a movement along a given demand curve

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Related questions

Which of the following statements about demand curves is TRUE?

a) If the price falls and quantity demanded increases, this is represented by a movement along a given demand curve.

b) If the price falls and quantity demanded increases, this is represented by a shift of the demand curve.

c) If the price falls and quantity demanded increases, this can be represented by either a movement along a given demand curve or a shift of the demand curve.

d) None of the above are true.

The law of supply indicates that:
a. there is an inverse relation between price and quantity supplied.
b. there is a direct relation between price and quantity supplied.
c. there is an inverse relation between the cost of inputs and the quantity supplied.
d. none of the above.

Graphically, an increase in supply can be shown as:
a. a rightward shift of the supply curve.
b. a leftward shift of the supply curve.
c. a rightward and upward movement along the supply curve.
d. a leftward and downward movement along the supply curve.

The full price of a visit to a movie includes:
a. the price of the tickets.
b. transportation costs.
c. the opportunity cost of using time for this activity instead of the next-best alternative.
d. all of the above.

Consumers make decisions based on:
a. full prices.
b. money prices.
c. transaction costs.
d. absolute costs.

Quantity demanded is graphically represented by a ______, while demand is graphically represented by a _______.
a. line, point.
b. intersection, line.
c. point, line.
d. point, intersection.

Better technology resulting in the decline in the cost of producing X is represented by A) a left shift of the demand curve. B) a right shift of the demand curve. a right shift of the supply curve. a left shift of the supply curve. a movement downward along the original supply curve, i.e. lower price but larger quantity supplied.

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