Question

Suppose a market is in equilibrium. If the number of buyers in the market increases we...

Suppose a market is in equilibrium. If the number of buyers in the market increases we should expect to see

a.   the price to increase and the size of the market to remain the same

b.   the price to increase and the size of the market to increase

c.   the price to increase and the size of the market to decrease

d. the price to decrease and the size of the market to increase

e.   the price to decrease and the size of the market to decrease

f.    the price to decrease and the size of the market to remain the same

2.

All businesses want their product advertising to shift their demand curve to the right. Most businesses also want their advertising to make the demand for their product

a. more elastic

b. less elastic

c. less inelastic

d. unitary elastic

e. complementary

3.

Suppose a market is in equilibrium. If the number of sellers in the market increases we should expect to see

a.   the price to increase and the size of the market to remain the same

b.   the price to increase and the size of the market to increase

c.   the price to increase and the size of the market to decrease

d. the price to decrease and the size of the market to increase

e.   the price to decrease and the size of the market to decrease

f.    the price to decrease and the size of the market to remain the same

4.

Ceteris paribus is an analytical assumption that means that when you consider a relationship

Group of answer choices

you always must remember that what goes around comes around

you must remember that the ones with the money make the rules

you assume that all other factors and variables are constant and do not change

you assume that all other variables are changing at the same time

5.

In the case of the two chemical companies practicing price discrimination when selling their plastic molding powder. who were in the inelastic sub-market?

a. other chemical companies

b. large industrial users of plastic in general manufacturing

c. users of complementary products

d. denture manufacturers and dentists

e. dental patients in need of something to clean their dentures and crowns with

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