L03 Supply and Demand

Poll

"If I were in a karaoke club...."

• "It would take MORE MONEY to convince me to sing, compared to the price I would require to sing in class"

• "It would take LESS MONEY to convince me to sing, compared to the price I would require to sing in class"

• 
  "It would take THE SAME PAYMENT to convince me to sing, compared to the price I would require to sing in class"

Multiple Choice

If there is a large increase in the cost of the materials used to make smart phones,

• The supply curve will shift to the left

• The supply curve will shift to the right

• The supply curve will not shift, but there will b a movement along the supply curve

Fill in the Blanks

Fill in the Blanks

Multiple Choice

When consumers went wild for Nutella after it when on sale, was that a movement along the Demand curve, or a shift in the demand curve?

• A shift in the demand curve

• A movement along the demand curve

Multiple Choice

At what price does the quantity demanded equal the quantity supplied?

• $12

• $10

• $8

• $6