9 (1 point) ______________ refers to the willingness and ability of buyers to purchase different quantities of a good at different prices during a specific time period, whereas __________________ refers to a particular number of units buyers want to buy at a specific price. Question 9 options: a) Demand; quantity demanded b) Quantity demanded; demand c) Supply; demand d) Demand; Supply Question 10 (1 point) Question 10 options: Use the following information to answer questions 10-12. Consider the demand curve for sedans in the United States. For simplicity, assume that all sedans are identical and sell for the same price. Also, assume that: The current market price for sedans is $30,000. The average Household income is $60,000 per year. The price of a gallon of gas is $5. The price of a subway ride is $2.50. Suppose the price of a sedan decreased from $30,000 to $25,000. This would cause a ________________ the demand curve. Question 11 (1 point) Question 11 options: If an increase in average income causes a rightward shift of the demand curve, then you could conclude that sedans are a _____________ good. Question 12 (1 point) Question 12 options: Suppose that the price of a gallon of gas rises from $5 to $6. Because sedans and gasoline are, an increase in the price of a gallon of gas shifts the demand curve for sedans to the

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Question 13 (1 point) Question 13 options: In questions 13-16, determine if the demand curve will shift left or right (Note: write either Left or Right) An increase in income (the good under consideration is an inferior good) Question 14 (1 point) Question 14 options: A rise in the price of a complementary good Question 15 (1 point) Question 15 options: A fall in the price of a substitute good Question 16 (1 point) Question 16 options: A rise in the number of buyers