According to the law of supply, price and quantity supplied (Qs)....

are controlled by the government

Which of the following would cause a change in quantity supplied (Qs)?

decrease price of that good or service

decreased producer expectations

increased cost of production/ input costs

If the price of peppermint (input) increases and the demand for Doublemint gum increases, what happens to the price and quantity?

Price increases and quantity is indeterminate (ambiguous).

Price decreases and quantity increases.

Price increases and quantity decreases.

Price is indeterminate (ambiguous) and quantity decreases.

If demand shifts to the right, and supply shifts to the right....

Price is indeterminate (ambiguous) and quantity increases.

Price decreases and quantity increases.

Price increases and quantity is indeterminate (ambiguous).

Price stays the same and quantity increases.

If supply shifts right....

price decreases, quantity increases

price increase, quantity increases

price decreases, quantity decreases

price increases, quantity decreases

What happens to the price and quantity of hamburgers when new grilling technology is introduced?

Price decreases, quantity increases

Price and quantity both decrease

Price increases, quantity decreases

Price and quantity both increase

Economics - Unit 2 - Lesson 4 Lesson

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