Question

1) All of the following except one would increase the amount of a particular model of a Ford automobile that buyers would like to buy. Which is the exception?

1. a technological breakthrough
2. an increasing popularity of this model by consumers
3. an increase in the USA population
4. increased prices of other Ford models
5. an increase in buyers' incomes

2) Blue-ray DVD and its player are complementary goods. An increase in the price of Blue-ray DVDs results in a(n)

1. increase in the quantity demanded of Blue-ray DVDs
2. decrease in the demand for Blue-ray DVD players
3. increase in the demand for Blue-ray DVDs
4. increase in the demand for Blue-ray DVD players
5. decrease in the quantity demanded of Blue-ray DVD players

3) Both Supply and Demand increase will result in

1. an indetermination in equilibrium price and an increase in equilibrium quantity
2. an increase in the equilibrium price and decrease in equilibrium quantity
3. a decrease in the equilibrium price and decrease in equilibrium quantity
4. an increase in equilibrium price and an indetermination in equilibrium quantity
5. both equilibrium price and quantity fall

4) An decrease in a company's total revenue for a product occurs if

1. demand is inelastic and price increases
2. demand is inelastic and price decreases
3. demand is elastic and price is indeterminated
4. demand is unitary elastic and price increases
5. demand is unitary elastic and price decreases

Answer 1

Ans1) the correct option is a) a technological breakthrough

ans2) the correct option is b) decrease in the demand for Blue-ray DVD players

ans3) the correct option is d) an increase in equilibrium price and an indetermination in equilibrium quantity

ans4) the correct option is b) demand is inelastic and price decreases