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Styles Part 1: Multiple Choice Questions 1. Suppose the demand curves for goods A, B, and C have the following functional forms, where Q [! point each] denotes quantity demanded, P denotes price, and M denotes income: QA = 120 -5PA - 5PB + M; QB =100-2PB + 3Pc+ 1.105M; QC= 1500 -0.5PC - 20M. Based on these demand curves, which of the following goods are known to be normal goods? B) C) 4mu A and B only E) A, B and C 2. Which of the following events would cause a change in the quantity supplied of some agricultural commodity but would not cause a change in the supply of that same commodity? A) a change in factor costs B) a technological change ) a change in the price of the commodity D) a change in the number of suppliers of the commodity E) a change in the price of substitute goods 31 Suppose that supply for some good increases and that simultaneously the demand for the same good decreases. The result would be A) a decrease in P and an indeterminate change in Q. a decrease in Q and an indeterminate change in P an increase in Q and a decrease in P D) an increase in Q and an increase in P E) no change in either P or