07 Jun Question Question 1 (Multiple Choice Worth 3 points)
Question
Question 1 (Multiple Choice Worth 3 points)
When Mrs. Edwards raises the price of Grad Nite tickets,
a. the demand for movie tickets increases because of the increase in the number of buyers.
b. the quantity demanded for movie tickets increases because the price of Grad Nite tickets increases.
c. the demand for movie tickets increases because student incomes change. the demand for movie tickets increases because they are cheaper than Grad Nite tickets.
d. the quantity demanded for movie tickets increases because the number of buyers increases.
Question 2 (Multiple Choice Worth 3 points)
If the price of papayas increases from $1.00 each to $1.25, will this cause a change in demand or quantity demanded?
a. Quantity Demanded
b. Demand
c. Demand is the entire curve.
Question 3 (Multiple Choice Worth 3 points)
Papaya Demand Schedule
Quantity D1 Price D2 Price D3 Price
50 3.00 3.50 4.00
100 2.50 3.00 3.50
150 2.00 2.50 3.00
200 1.50 2.00 2.50
250 1.00 1.50 2.00
300 .50 1.00 1.50
D = Demand
Use the table above showing three demand curves (D1, D2, and D3) to answer the following question.
Given the D2 demand curve for papayas, at a price of $2.00 each, how many papayas are consumers willing and able to purchase?
a. 50
b. 100
c. 150
d. 200
e. 250
Question 4 (Multiple Choice Worth 3 points)
Suppose people like tuna salad and chicken salad equally well. If the price of tuna salad increases, which of the following statements is true?
a. The quantity demanded of chicken salad will decrease.
b. The quantity demanded of tuna salad will decrease.
c. The demand for tuna salad will increase.
d. The demand for tuna salad will decrease.
e. The demand for chicken salad will decrease.
Question 5 (Multiple Choice Worth 3 points)
If demand for energy drinks decreases when the price of bagels increases, we can say that energy drinks and bagels are
a. normal goods.
b. inferior goods.
c. substitute goods.
d. complementary goods.
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