PLEASE CHOOSE THE RIGHT ANSWER FOR THE WRONG ONE

How X Untitle X A Leona X Pytho x G Thep X Quizze X G Tomat X ) Chapt x Duali X UD Intern > + talon.kirkwood.edu/d21/Ims/quizzing/user/attempt/quiz_start_frame_auto.d2/?ou= 1795368uspry=&drc=08tgi=527075&cfql=0&dnb=0... G Q * [ (Upd Question 10 U / 1 POHIL Price Quantity Demanded Quantity Supplied $3.00 1,500 3,800 $2.00 2,500 2,500 $1.50 3,000 1,800 Using the table above, what is the equilibrium price and quantity? price: $3.00; quantity: 3,800 price: $1.50; quantity: 1,800 price: $2.00; quantity: 2,500 price: $3.00; quantity: 1,500 Question 19 0 / 1 point If there is a shortage in the potato market, which of the following will occur? Producers will increase their prices and expand their production of potatoes ForConsumers will see the price change of potatoes and more people will be willing and able to buy potatoes There will be downward pressure on the price The quantity demanded of potatoes will be less than the quantity supplied of potatoes to search W 37OF DENG TCL Dan Chu, Binh Tho, Thu Duc, Vietnam Thanh pho Ho Chi Minh,How x _ Untitle X A Leone X Pytho X G The p X Quizze X G Tomat X Q Chapt x Duolin x UD Intern + a talon.kirkwood.edu/d21/Ims/quizzing/user/attempt/quiz start_frame_auto.d2/?ou=179536&ispry=&drc=08qi=527075&cfql=08dnb=0... G Q 2 * 0Cu The good is an inferior good Question 25 0 / 1 point When a good has an elastic demand and producers raise the price the good is sold for, what happens to their total revenue? Increases Stays the same Decreases Falls to zero Question 26 1 / 1 point The income elasticity for Good A is 0.7, and its cross elasticity with Good B is 0.7. What should we conclude about Good A? It is a normal good and a substitute for Good B It is a normal good and a compliment of Good B It is an inferior good and a substitute for Good B It is an inferior good and a compliment of Good B Question 27 0 / 1 point The income elasticity of demand for canned peas is -1.2. If consumer income decreases, what will happen in the market for canned peas? Hint: Are canned peas normal or inferior goods? Now graph the market for canned peas, shift your curve, and find the new equilibrium to search 37 F AGOZ ENG TCL Dan Chu, Binh Tho,ow C X Untitle X A Leona X Pytho x G The p X Quizze X G Tomat x Q Chapt x Duolit x UD Intern + C talon.kirkwood.edu/d21/Ims/quizzing/user/attempt/quiz start_frame auto.d2/?ou=1795368isprv=&drc=08qi=527075&cfql=0&dnb=0. G Q* 09 Update It is an inferior good and a compliment of Good B Question 27 0 / 1 point The income elasticity of demand for canned peas is -1.2. If consumer income decreases, what will happen in the market for canned peas? Hint: Are canned peas normal or inferior goods? Now graph the market for canned peas, shift your curve, and find the new equilibrium. Both equilibrium price and equilibrium quantity increase Both equilibrium price and equilibrium quantity decrease . Equilibrium price increases while equilibrium quantity decreases Equilibrium price decreases while equilibrium quantity increases Question 28 1 / 1 point The cross price elasticity of demand for hot dogs and hot dog buns is -2.6 and the price of hot dog buns increases. What will happen in the market for hot dogs? Hint: Are hot dogs and hot dog buns complimentary or substitute goods? Now graph the market for hot dogs, shift your curve, and find the new equilibrium. Both equilibrium price and equilibrium quantity increase Both equilibrium price and equilibrium quantity decrease Equilibrium price increases while equilibrium quantity decreases to search W 37.F AGOZ ENG 3/ TCL hanh 62 Dan Chu, Binh Tho, Thu DucUD Intern talon.kirkwood.edu/d21/Ims/quizzing/user/attempt/quiz_start_frame_auto.d2/?ou=179536&isprv=&drc=0&qi=527075&cfql=0&dnb=0... GQ * 19 (Update 112 utils Question 33 1 / 1 point According to the substitution effect, in the price of a normal good will cause in the quantity demanded of that good. an increase; an increase an increase; a decrease a decrease; a decrease Question 34 1 / 1 point According to the income effect, an increase in the price of a NORMAL good will cause consumers' real income to which will cause in the quantity demanded of that good. increase; an increase increase; a decrease decrease; an increase decrease; a decrease Question 35 0 / 1 point With an inferior good, the substitution effect and the income effect work in opposite directions. Which effect is stronger depends on If the good takes un a small or large portion of consumers' budgets to search O W 9 370F 0 (ENG 1:48 PM 3/2/202 TCL Dan Chu, Binh Tho, Thu Duc, Thanh pho Ho Chi Minh, weula!n JAPAN Phone Number