Question

Week 2 2 hours 50 questions 100 Points ime Remaining: Save Progress Last Saved: 4:50 PM UNone of the above 45) The current supply cúrve of widgets would shift to the right (an increase in supply)as a result of which of the following changes? (2pts) 3 an expeczátion that the price of widgets will be higher next mont a the elmidation of a subsidy for producers of the good. a decrease in the wages paid to the workers who make the All of the above Nony of the above 46) There ill be pressure on the price of a good to rise ceteris paribus,whenever there is which of the (2pts) ng à shortage of the good. adecrease in the demand for the gcod. 0 scarcity. D a surplus of the good. an increase in the supply of the good. 47) Ceteris paribus, an increase in the supply of a good will cause which of the following to (2pts) happen? a Equilibrium price will increase but equilibrium quantity wll a Equilibrium price will decrease but equilibrium quantity will decrease. increase. Equilibrium price and quantity will both decrease. Equilibrium price and quantity will both increase 48) Ceteris paribus, equilibrium price and quantity would both increase at the same time as a 2pts) result of

Answer 1

45) a decrease in the wages paid to the workers....

Decrease in wage decreases cost of production which leads to increase in supply.

46) a shortage s of the good

When there is a shortage of the good, quantity demanded is greater than quantity supplied. To decrease quantity demanded and increase quantity supplied, price tends to rise.

47) equilibrium price will decrease but equilibrium quantity will increase