Figure 3-2 Price Supply. S Quantity Refer to Figure 3-2. A decrease in the number of...

Question

Question

Answer 1

Answer #1

Ans) the correct option is d) S2 to S1

Decrease in the number of firms will decrease the output produced so supply curve shifts to the left

Answer 2

Similar Homework Help Questions

Price S2 S1 Quantity Refer to Figure 3-8. The graph in this figure illustrates an initial...

Price S2 S1 Quantity Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for motorcycles at the intersection of D1 and 52 (point B). Assume that Motorcycles are a normal good. If there is an increase in number of companies producing motorcycles and a decrease in income (assume motorcycles are a normal good), the equilibrium could move to which point? ΟΑ) Α ОВ) в 0 O C) c OD E Panel (a)...
Refer to Figure 3-2. A decrease in the price of inputs would be represented by a...

Refer to Figure 3-2. A decrease in the price of inputs would be represented by a movement from Figure 3-2 Question 2 options: A) A to B. B) B to A. C) S1 to S2. D) S2 to S1.
Refer to Figure 3-2. An increase in the expected future price of the product would be...

Refer to Figure 3-2. An increase in the expected future price of the product would be represented by a movement from A to B. S2 to S1. B to A. S1 to S2. Figure 3-2 Price Supply Quantity

QUESTION 3 Figure Price Supply P K I P" P B M N Demand Quantity Refer...

QUESTION 3 Figure Price Supply P K I P" P B M N Demand Quantity Refer to Figure. If the government imposes a tax size of P- P" in the above market then the area L+M+Y represents a. consumer surplus after the tax. producer surplus after the tax. Cconsumer surplus before the tax. producer surplus before the tax. QUESTION 4 4 point Figure Supply Dennd Quantity Q1 02 Q3 Q Qs Refer to Figure. If the government impose a tax...
(Figure: Double Shift Alpha) Price Quantity Which of these represents a decrease in supply and an...

(Figure: Double Shift Alpha) Price Quantity Which of these represents a decrease in supply and an increase in demand? A. movement from Point X to Point Z OB. movement from Point Z to Point X OC. movement from Point W to Point Y OD. movement from Point Y to Point W
LILY QUESTIONS 1. The law of supply states that as the market price increases a. the quantity supplied increases b....

LILY QUESTIONS 1. The law of supply states that as the market price increases a. the quantity supplied increases b. the quantity supplied decreases c. the supply increases d. the supply decreases 2. The law of supply states that as the market price decreases a. the quantity supplied increases b. the quantity supplied decreases c. the supply increases d. the supply decreases 3. As more firms exit the market a. the market supply increases (shifts to the right). b. the...

Please see picture Price of Good x Quantity of Good X Refer to Exhibit 3-7. If...

Please see picture Price of Good x Quantity of Good X Refer to Exhibit 3-7. If S1 is the relevant supply curve, a decrease in the price of a resource that is necessary for the production of good X causes O no change in the supply of good X. the supply of good X to shift from $1 to $3. O a movement along S1 perhaps from point A to point B. O a movement along S1 perhaps from point...
In the figure below, a movement from S1 to S2 represents: Figure: Supply Shift Price Si...

In the figure below, a movement from S1 to S2 represents: Figure: Supply Shift Price Si S2 Quantity a decrease in supply. an increase in supply. a decrease in quantity supplied an increase in quantity supplied
Figure 1 Price (dollars per month) $2.300 Supply 2.000 Demand 200 300 500 Quantity (apartments) Refer...

Figure 1 Price (dollars per month) $2.300 Supply 2.000 Demand 200 300 500 Quantity (apartments) Refer to Figure 1. What is the value of consumer surplus at the market equilibrium price? OA) $0 OB) $120,000 OC) $175,000 OD) $135,000

X S <CODE Question 32 Figure 3-1 Figure 3-1 Price D Demand, D. Quantity Refer to...

X S <CODE Question 32 Figure 3-1 Figure 3-1 Price D Demand, D. Quantity Refer to Figure 3-1. An increase in the price of the product would be represented by a movement from Ato B B to A Dito D2 D2 to Di