Whichofthefollowingchangeswouldnotshiftthesupplycurveforagoodorservice?
A. a change in production technology
B. a change in the price of the good or service
C. a change in expectations about the future price of the good or service
D. a change in input prices
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Today,producerschangedtheirexpectationsaboutthefuture.Thischange
A. can cause a movement along a supply curve.
B. can affect future supply, but not today’s supply.
C. can affect today’s supply.
D. cannot affect either today’s supply or future supply.
Attheequilibriumprice,thequantityofthegoodthatbuyersarewillingandabletobuy
A. is greater than the quantity that sellers are willing and able to sell.
B. exactly equals the quantity that sellers are willing and able to sell.
C. is less than the quantity that sellers are willing and able to sell.
D. Either a) or c) could be correct.
Ifthedemandforaproductincreases,thenwewouldexpectequilibriumprice
A. to increase and equilibrium quantity to decrease.
B. to decrease and equilibrium quantity to increase.
C. and equilibrium quantity both to increase.
D. and equilibrium quantity both to decrease.
Ifthesupplyofaproductdecreases,thenwewouldexpectequilibriumprice
A. to increase and equilibrium quantity to decrease.
B. to decrease and equilibrium quantity to increase.
C. and equilibrium quantity to both increase.
D. and equilibrium quantity to both decrease.
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