Econ 101 - Microeconomics » Fall 2022 » Shifts in Supply and Demand Quiz

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Question #1
Which of the following changes will occur to the market for movie tickets when the cost of electricity to operate the air conditioner rises dramatically.
A.   The supply curve will shift in (up and back), causing the price to increase and the quantity to decrease.
B.   The supply curve will shift out, causing the price to increase and the quantity to decrease.
C.   The supply curve will shift in (up and back), causing the price to decrease and the quantity to increase.
D.   The supply curve will shift out, causing the price to decrease and the quantity to increase.
Question #2
Which of the following changes will occur to the market for movie tickets when video streaming becomes less expensive and makes it easier to watch videos instantly?
A.   The demand curve for movie tickets will shift out, causing the price to increase and the quantity to decrease.
B.   The demand curve for movie tickets will shift in, causing the price to decrease and the quantity to increase.
C.   The demand curve for movie tickets will shift in, causing the price to decrease and the quantity to decrease.
D.   The demand curve for movie tickets will shift out, causing the price to increase and the quantity to increase.
Question #3
Which of the following changes will occur to the market for movie tickets when the price of the tickets rises.
A.   The demand curve will not shift, since the price of the tickets changed.  Instead, given the law of demand, the quantity-demanded of the tickets will be reduced.
B.   The demand curve will shift out, causing the price to increase and the quantity to increases.
C.   The demand curve will shift in, causing the price to decrease and the quantity to increases.
D.   The demand curve will shift out, causing the price to increase and the quantity to decreases.

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