1. Demand shifters do not include the... a. consumer's tastes and preferences. b. the price of the other related goods. c. price of the good. d. consumer's expectations about future prices of the good 2. If a shortage exists in a market, the natural tendency is for: A. demand to increase. B. price to increase. C. quantity supplied to decrease. D. no change in the market.

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IV. True or False. False = - 0,05 point, Right: + 0.1 p, No answer = 0 p False True Other things held constant, the greater the price of a good the lower the consumer surplus. The curve which summarizes the total quantity producers are willing and able to produce at differing prices is the market supply curve. When an effective price ceiling is in place, every consumer is worse off. Consumer surplus is the value consumers do not pay because of a discount by a supplier Producer surplus is the maximum amount a producer can collect from consumers ll. True or False. False = - 0,1 point, Right = + 0,25 p, No answer = 0 p False True Assume a positive externality. In this case the social marginal cost will fall short private marginal cost. Assume a positive externality. In this case the social marginal cost will exceed private marginal cost. A good from which others cannot be excluded is a good that will be produced by a perfectly competitive market National defence is a good which cannot be produced efciently by a perfect market but by a private monopoly. Public broadcasting is a good that can provide benefits to additional users at a zero marginal cost. Public broadcasting is a good that can provide benefits to additional users at slowly rising marginal cost