Question

PLEASE ANSWER ALL THE QUESTIONS , AS I CANNOT REPOST THE QUESTIONS ANY MORE (

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Supply SHOCKS --> Shifts in Supply.

Sb $Price, S, cost a. Qs, quantity supplied

1. Above is the Supply (Cost) curve for BEER.  Tell me which shift will happen,  a or b,  if:

- Storms destroy most of the grain crops for this year’s beer supply.

- Government places a higher Tax on beer sold by beer companies.

- New brewery technologies help lower the energy costs to produce beer!

- There is excellent weather for growing grain used to make beer, this year!

2. True or False. "The Law of Supply states: When the price of a good increases, Supply increases."

3. Use the graph shown below: The shift from curve S1 to curve S2 is called

(a)  a decrease in Quantity Supplied.

(b)  a decrease in Supply.

(c) an increase in Quantity Supplied.  

(d)  an increase in Supply.

4. Use the graph shown below: Moving from point A to point B below, shows

(a) a decrease in the Quantity Supplied.

(b)  a decrease in Supply

(c) an increase in the Quantity Supplied

(d) an increase in Supply.

Answer 1