Which Of The Following Would Not Shift The Demand Curve For A Good Or Service

All the following questions are from previous exams for Economics 103. They are duplicates of the questions found in the Topic sub-sections.

Exercises iii.ii

1. A buyer has purchased three units of proficient X. The marginal benefit of the quaternary unit of X exceeds the marginal toll of the quaternary unit of skilful 10. Which of the post-obit reasons explains why the buyer should purchase the fourth unit?

I.The marginal cyberspace do good of the fourth unit is positive.
II. Ownership the fourth unit will increase total benefits by more than than full costs.
III. Buying the quaternary unit will increase total benefits and subtract full costs.

a) I just
b) I and II only
c) Two but
d) I, 2, Iii

two. According to marginal analysis, optimal decision-making involves:

a) Taking actions whenever the marginal benefit is positive.
b) Taking actions only if the marginal price is zero.
c) Taking deportment whenever the marginal benefit exceeds the marginal cost.
d) All of the above.

The following TWO questions refer to an private'due south need bend diagram, illustrated below.

3. If the cost of this skillful is $one per unit, what will exist the quantity demanded?

a) 5.
b) x.
c) xv.
d) 20.

4. What are the Full benefits to this individual if she consumes 10 units of the good?

a) $five.
b) $10.
c) $20.
d) $30.

five. The demand curve for a good is derived from the:

a) Marginal cost of the good.
b) Marginal benefit of the good.
c) Marginal benefits of the good minus marginal costs of the good.
d) Product Possibilities Frontier

6. Which of the following statements about need curves is TRUE?

I. The "Law of Need" holds if a consumer's marginal benefit is lower at college quantities consumed than it is at lower quantities consumed.
II. If the consumer's marginal benefit is the same no thing what quantity is consumed, so her demand bend will exist vertical.
III. All else equal, the marginal benefit of consuming a normal good will be college for richer consumers than for poorer consumers.

a) III but.
b) I and Two only.
c) I and III just.
d) I only.

The post-obit Iv questions refer to the diagram beneath, which illustrates a consumer'south need curve for a good.

seven. If the price of this good is $xxx, what quantity will be demanded?

a) 5 units.
b) 10 units.
c) xv units.
d) twenty units.

8. If the price of this expert is $20, what quantity volition be demanded?

a) 5 units.
b) 10 units.
c) xv units.
d) twenty units.

9. If the toll of this good is $20, what volition consumer surplus equal?

a) $100.
b) $200.
c) $300
d) $400.

10. If the price of this proficient falls from $30 to $20, only the consumer is prohibited from buying more than 5 units of the good, by how much volition consumer surplus increase?

a) $100.
b) $75.
c) $50
d) $25.

Exercises iii.iii

i. Which of the following statements about need curves is Truthful?

a) If toll falls and quantity demanded increases, this is represented past a motility forth a given demand curve.
b) If cost falls and quantity demanded increases, this is represented by a shift of the demand curve.
c) If price falls and quantity demanded increases, this tin be represented by either a move along a given demand bend, or a shift of the need bend.
d) None of the higher up are truthful.

2. Which of the following is Non a determinant of the demand for good X?

a) The income of consumers who buy proficient X.
b) The price of labor used to produce skillful X.
c) The price of skilful Y, a complement to X.
d) The number of buyers of good X.

three. Which of the following will issue in a DECREASE in demand (i.e., a leftward shift of the demand curve)?

a) An increase in income, if the good is normal.
b) A subtract in the price of a complement to the good.
c) An increase in the price of a substitute for the good.
d) None of the above.

iv. Suppose that my daily marginal do good from drinking coffee increases past $2 per cup. Which of the following represents the upshot of this on my coffee demand bend?

v. Which of the following is NOT a determinant of the need for proficient X?

a) The cost of labor used to produce good X.
b) The toll of good X.
c) The income of consumers who buy good 10.
d) The price of good Y, which is a substitute for proficient X.

half-dozen. Which of the post-obit IS a determinant of the demand for good X?

a) The income of consumers who buy good Ten.
b) The cost of labor used to produce practiced X.
c) The supply of good X.
d) The number of sellers of good X.

7. A decrease in quantity demanded is, graphically, represented by:

a) A leftward shift in the need curve.
b) A rightward shift in the need curve.
c) A motion upward and to the left along a demand bend.
d) A movement downwardly and to the right along a demand curve.

8. Suppose goods X and Y are substitutes. Which of the post-obit is TRUE?

a) An increase in the price of X will consequence in a decrease in the equilibrium cost of Y.
b) An decrease in the price of 10 will result in an increase in the equilibrium quantity of Y.
c) An increment in the price of X will result in an increase in the equilibrium quantity of Y.
d) More than ane of the above is true.

9. If cookies are a normal skilful and incomes increase, we would expect:

a) An increment in equilibrium price and a subtract in equilibrium quantity.
b) A decrease in equilibrium toll and an increase in equilibrium quantity.
c) A decrease in equilibrium cost and equilibrium quantity.
d) An increase in equilibrium price and equilibrium quantity.

10. A subtract in demand is, graphically, represented past:

a) A leftward shift in the demand curve.
b) A rightward shift in the demand curve.
c) A movement upward and to the left along a demand curve.
d) A motion down and to the correct along a need curve.

11. The diagram beneath illustrates iii possible demand curves for coconuts.

Suppose that coconuts and pineapples are substitutes. If the price of pineapples increases, which of the following movements volition correspond the result of this in the market for coconuts?

a) A to C.
b) A to B.
c) B to A.
d) B to E.

The following 2 questions refer to the diagram beneath.

12. If the cost of this good is $20, what will exist the quantity demanded?

a) 10.
b) twenty.
c) 30.
d) 40.

13. If the price of this expert is $threescore, what volition consumer surplus equal?

a) $50.
b) $100.
c) $150.
d) $200.

14. The following question refers to the diagram beneath, which illustrates an private'southward need curve for a good.

If the toll of this good falls from P ₁ to P _two , then consumer surplus will _____ past areas _____.

a) increase; B+D.
b) decrease; B+D.
c) increment; A+B+D.
d) decrease; A.

fifteen. Consider the diagram below.

At the equilibrium in this market place, which area represents CONSUMER surplus?

a) At that place is no consumer surplus.
b) Area w.
c) Area x + y.
d) Area w + y.

16. Which of the following CANNOT outcome in a shift of the demand curve for a good?

a) A alter in consumers' incomes.
b) A change in the price of the good.
c) A alter in the price of a complement to the skillful.
d) All of the above will shift the demand bend.

17. Suppose the price of skillful X increases. If X and Y are substitutes, then, in the marketplace for good Y, we would expect:

a) An increase in both the equilibrium price and quantity.
b) A decrease in the equilibrium price and an increment in the equilibrium quantity.
c) An increase in the equilibrium price and a decrease in the equilibrium quantity.
d) A decrease in both the equilibrium price and quantity.

xviii. If java and milk are complements, then which of the following will occur if the price of java increases?

a) The quantity of java demanded will increase.
b) The quantity of java supplied volition decrease.
c) The need for milk will increase.
d) The demand for milk will decrease.

19. Consumer surplus is equal to:

a) Acquirement received for a practiced minus that skillful's cost of production.
b) The amount of money a consumer is willing to pay for a good.
c) The opportunity price of a practiced.
d) None of the in a higher place.

twenty. The diagram below illustrates iii possible demand curves for coconuts.

Suppose that (i) coconuts are an junior good and (ii) consumer incomes decrease. Which of the following movements could represent the upshot of this in the market for coconuts?

a) A to C.
b) B to A.
c) C to A.
d) B to E.

Exercises 3.4

i. An individual producer's supply curve for a proficient is derived from:

a) The preferences of consumers of that good.
b) The income of consumers of that skilful.
c) The marginal cost of producing that good.
d) All of the above.

The following TWO questions refer to the supply curve diagram below.

2. If toll is $8 per unit, quantity supplied will equal:

a) 10.
b) 20.
c) 30.
d) 40.

3. If quantity supplied increases from 10 to 20 units, the producer'southward full costs volition increase by:

a) $twenty.
b) $thirty.
c) $40.
d) $80.

four. Which of the following statements about supply curves is Truthful?

a) The "police force of supply" states that as price rises, quantity supplied besides rises.
b) If the marginal cost of producing a proficient is higher at high levels of output than at low levels of output, and then the supply curve for that good is upward sloping.
c) Both a) and b) are true.
d) Neither a) nor b) are true.

5. When deciding how much of a item good to produce, a producer should:

a) Keep producing more units until the total benefits equal the full costs.
b) Always produce an boosted unit if cost is greater than marginal cost.
c) Never produce an additional unit of measurement if its marginal cost is higher than the marginal toll of previously produced units.
d) Always produce at boosted unit if price is greater than zilch.

The following Ii questions refer to the diagram beneath, which illustrates a supply bend.

6. In society for quantity supplied to equal 6 units, the toll per unit must exist:

a) $1.
b) $2.
c) $3.
d) $4.

7. If the price of this skillful is $four per unit, so what does producer surplus equal?

a) $32.
b) $24.
c) $16.
d) $12.

8. The diagram below illustrates a supply bend.

If the price of this practiced is $2 per unit of measurement, then what will be the quantity supplied?

a) 0.
b) 1.
c) 2.
d) 3.

9. Sarah is selling her used truck. The minimum amount she needs to be paid for the truck is $5,000. She advertises the truck on usedvictoria.com for $8,000, and somewhen sells the truck for $6,000. Her producer surplus is equal to _____.

a) $1,000.
b) $ii,000.
c) $three,000.
d) $six,000.

Exercises 3.5

1. Which of the following will NOT shift the market supply curve of good X?

a) A change in the cost of inputs used to produce good X.
b) A change in the technology used to produce X.
c) A change number of sellers of good X.
d) A change in the cost of good Ten.

2. Which of the post-obit is Not a determinant of the supply of good 10?

a) The cost of inputs used to produce good Ten.
b) The engineering used to produce X.
c) The number of sellers of practiced 10.
d) All of the in a higher place are determinants of the supply of adept 10.

The following TWO questions refer to the diagram below.

iii. At what cost will quantity supplied equal 3 units?

a) $1.
b) $two.
c) $3.
d) $four.

4. At what price will producer surplus equal $2?

a) $ane.
b) $ii.
c) $3.
d) $four.

5. A decrease in supply is, graphically, represented by:

a) A leftward shift in the supply curve.
b) A rightward shift in the supply curve.
c) A motion up and to the right along a supply curve.
d) A movement downwardly and to the left forth a supply curve.

vi. Which of the post-obit is Not a determinant of the supply of good X?

a) The price of labor used to produce good 10.
b) The price of good 10.
c) The income of consumers who purchase good X.
d) The number of sellers of good 10.

7. Which of the following is Non a determinant of the supply of good X?

a) The toll of labor used to produce good X.
b) Consumer preferences.
c) Applied science.
d) All of the above are determinants of the supply of good X.

8. Martin is selling his viola. The minimum amount he needs to exist paid for the viola is $15,500. He find a buyer for who is willing to pay $22,400, just this heir-apparent insists that Martin pays for delivery of the viola. The price of commitment is $700. Martin's producer surplus from selling his viola is equal to _____.

a) $14,800.
b) $vii,600.
c) $6,900.
d) $vi,200.

9. Which of the post-obit statements about junior goods is/are Fake?

I. Inferior goods are those that nosotros will never buy, no matter how cheap they are.
Ii. Inferior goods are those that we purchase more than of, if we go poorer.
III. Inferior goods are those that we purchase more than of, if we become richer.

a) I just
b) III just.
c) I and III only.
d) I, II, and III.

Exercises 3.6

1. Suppose that – at a given level of some economic action – marginal benefit is greater than marginal cost. The economic amanuensis in question (the decision-maker) tin can increase cyberspace benefits past increasing the level of the action, for which of the following reasons?

a) Total costs volition fall by more than than total benefits.
b) Total benefits will ascent by more than total costs.
c) Neither a) nor b).
d) Either a) or b).

2. Which of the following statements is True?

a) Consumer surplus is the divergence between the minimum amount a consumer is willing to pay, and what he or she actually pays.
b) Producer surplus is the difference between the amount of money a seller is paid, and the maximum amount that he or she needs to exist paid.
c) Market surplus is equal to the sum of consumer surplus and producer surplus.
d) All of the above are true.

The following TWO questions refer to the supply and demand curve diagram below.

3. The equilibrium price in this market is equal to:

a) $6 per unit of measurement.
b) $five per unit.
c) $4 per unit.
d) $3 per unit.

4. At a price of $8, there is:

a) Excess demand (a shortage) of 25 units.
b) Excess demand (a shortage) of xv units.
c) Backlog supply (a surplus) of 15 units.
d) Excess supply (a surplus) of 25 units.

5. Which of the following statements nearly consumer surplus and producer surplus is TRUE?

a) Consumer surplus is equal to the expanse nether the demand curve.
b) Producer surplus is equal to the area under the supply curve.
c) Both producer and consumer surplus are equal to price multiplied past quantity.
d) None of the to a higher place statements is true.

half-dozen. Consider the supply and demand curve diagram below.

If the price of this good is $6, then:

a) There is an backlog demand (a shortage) equal to 210 units.
b) There is an excess demand (a shortage) equal to 140 units.
c) At that place is an excess supply (a surplus) equal to 210 units.
d) In that location is an excess supply (a surplus) equal to 140 units.

7. When deciding how much of a particular good to buy, a consumer should:

a) Proceed buying more units until the full benefits equal the total costs.
b) Ever purchase at additional unit of measurement if its marginal net do good is positive.
c) Go on buying more units if marginal cost is greater than marginal do good.
d) Always purchase at additional unit if its marginal do good is positive.

8. Refer to the supply and demand diagram below.

At the equilibrium toll in this market, consumer surplus is equal to area ___ and producer surplus is equal to area ____

a) a + b; c.
b) a; b + c.
c) a + b; b + c.
d) a + b + c; d + f.

9. Which of the following statements about consumer and producer surplus is Truthful?

a) Consumer surplus is equal to the maximum amount a consumer is willing to pay for a good, minus what the consumer has to pay for the good.
b) Producer surplus is equal to the amount received from selling a adept, minus the minimum amount the seller needed to receive, in gild to be willing to sell the good.
c) Both a) and b) are true.
d) Neither a) nor b) are true.

The following Two questions refer to the supply and demand diagram beneath.

10. Which of the following COULD explain the shift in supply from S1 to S2.

a) An increase in the cost of producing the practiced.
b) A decrease in the number of sellers in the market.
c) Both a) and b).
d) Neither a) nor b).

11. If supply is S2, which area represents Marketplace surplus?

a) a
b) a + b.
c) a + b + e.
d) Nosotros demand to know price in order to decide market surplus.

12. Consider the supply and demand diagram drawn below.

Suppose that need is initially D1, simply, following a alter in consumer preferences, demand shifts to D2. Note that the two demand curves are parallel. Which of the following statements is Truthful?

a) Demand increases by 30 units.
b) Quantity demanded increases by 30 units.
c) Equilibrium quantity increases past thirty units.
d) More than i of the above statements is truthful.

13. Suppose the equilibrium cost of good X is $10 and the equilibrium quantity is lx units. If the toll of good X is $4:

a) The quantity demanded volition be less than sixty units.
b) The quantity supplied will be more than 60 units.
c) There will be an excess need for good X.
d) There will be an excess supply of expert X.

14. All else equal, a decrease in the marginal cost of producing a practiced will consequence in:

a) A lower equilibrium quantity and a higher equilibrium price.
b) A lower equilibrium quantity and a lower equilibrium price.
c) A higher equilibrium quantity and a higher equilibrium price.
d) A higher equilibrium quantity and a lower equilibrium toll.

The following TWO questions refer to the diagram beneath.

15. The equilibrium toll is ____ the equilibrium quantity is _____.

a) $5; 30.
b) $seven; xxx.
c) $7; 40.
d) $eight; 40.

16. If the marginal cost of producing this expert rises past $3 at every output level, and then the new equilibrium price will be _____.

a) There is bereft information to calculate the new equilibrium price
b) $3.
c) $8.
d) $x.

17. Consider the supply and demand diagram drawn below.

What does the equilibrium toll equal in this market place?

a) $8.
b) $15.
c) $thirty.
d) $45.

18. Refer to the diagram below.

At a price of $10 per unit:

a) In that location is backlog demand (a shortage) equal to 45 units.
b) In that location is excess supply (a surplus) equal to 45 units.
c) There is excess demand (a shortage) equal to 20 units.
d) There is backlog supply (a surplus) equal to xx units.

19. Consider the market for oranges. Suppose that both of the following occur simultaneously: (i) the price of apples (a substitute for oranges) decreases; and (two) globe-broad droughts reduce the harvest of oranges by 30%. Then, in the market for oranges we would wait:

a) The equilibrium price of oranges could either increase or decrease, but equilibrium quantity will definitely decrease.
b) The equilibrium quantity of oranges could either increment or decrease, just equilibrium price will definitely decrease.
c) The equilibrium cost of oranges could either increase or decrease, but equilibrium quantity volition definitely increase.
d) The equilibrium quantity of oranges could either increase or decrease, simply equilibrium price will definitely increase.

xx. Suppose that, post-obit a decrease in the supply of expert X, we discover that the price of expert Y decreases. If no other curves have shifted, which of the following can we infer?

a) Skilful 10 is an inferior proficient.
b) Appurtenances 10 and Y are complements.
c) Goods X and Y are substitutes.
d) None of the higher up.

21. In recent years there accept been a couple of loftier profile cases of contamination of baby formula produced in China. As a result, many Chinese parents buy infant formula that is produced exterior Mainland china. Which of the following accurately describes the likely effect of this on infant formula prices?

a) An increase in the price of baby formula produced in Mainland china and a decrease in the price of babe formula produced outside Prc.
b) A decrease in the price of baby formula produced in Prc and an increase in the price of infant formula produced outside China.
c) A decrease in the price of both baby formula produced in China and baby formula produced exterior China.
d) An increase in the price of both infant formula produced in China and baby formula produced outside China.

22. Refer to the supply and demand diagram below.

If supply is S1, which area represents MARKET surplus?

a) a
b) a + b.
c) a + b + e.
d) We need to know price in order to determine market surplus.

23. Suppose that in the market for practiced X (a normal skillful), the following occur simultaneously: (i) consumer incomes increase and (ii) the cost of oil (an input to the production of X) increases. Which of the following statements is TRUE?

a) The equilibrium price of 10 could either increase or decrease, but equilibrium quantity will definitely decrease.
b) The equilibrium quantity of X could either increment or decrease, merely equilibrium price will definitely decrease.
c) The equilibrium price of X could either increment or subtract, just equilibrium quantity will definitely increase.
d) The equilibrium quantity of 10 could either increase or decrease, but equilibrium cost volition definitely increment.

24. Consider the supply and demand diagram beneath.

If supply decreases from S1 to S2, which expanse represents the change in PRODUCER surplus?

a) b + c – f.
b) a + b + c.
c) b – f – e.
d) c + f + chiliad + e.

25. A contempo news story reported that OPEC is expected to subtract the supply of oil side by side summer. Summertime is traditionally a time of increased demand for oil because of the many families driving and flight to holiday sites. What would exist the combined consequence of these two activities on the summer marketplace for gasoline?

a) An increase in the equilibrium price and the quantity.
b) An increase in the equilibrium toll and an unpredictable change in the equilibrium quantity.
c) An unpredictable change in both the equilibrium price and the quantity.
d) An unpredictable modify in the equilibrium cost and a decrease in the equilibrium quantity.

26. Consider the supply and need curves drawn below.

Given the equilibrium quantity, which area represents Market SURPLUS?

a) X + Y + Z.
b) X + Y.
c) 10.
d) There is no marketplace surplus.

27. Which of the post-obit CANNOT result in an increase in toll in a competitive market place for a normal skilful?

a) An increment in income.
b) A subtract in the price of a complement to this proficient.
c) An increase in the price of a substitute for this practiced.
d) A decrease in the wages paid to workers who produce this practiced.

28. Consider the supply and need curves illustrated beneath.

Which of the post-obit statements is true?

a) At a toll of P3, there is excess demand equal to the distance DE.
b) At a cost of P3, there is excess need equal to the distance BE.
c) At a cost of P3, there is excess supply equal to the distance Be.
d) At a price of P3, there is backlog supply equal to the distance DE.

29. Which of the following CANNOT result in a decrease in the equilibrium quantity sold of an inferior practiced?

a) An increase in the price of a substitute for the adept.
b) An increase in consumer incomes.
c) An increase in wages paid to workers who produce the skilful.
d) An increment in the price of a complement for the good.

30. Which of the post-obit statements is FALSE?

a) At the competitive equilibrium, market surplus is maximized.
b) At the competitive equilibrium, the marginal benefit to consumers equals the marginal cost to producers.
c) At the competitive equilibrium, social surplus is maximized if in that location are no externalities.
d) At the competitive equilibrium, it is possible to make at to the lowest degree one person meliorate off without making anyone worse off.

31. A recent Health Canada report argued that there is a potent link between the consumption of steak and heart affliction. At the aforementioned time, Canadian consumers' incomes rose. If steak is a normal adept, what are the combined effects in the market for steak?

a) An increase in the equilibrium cost and the quantity.
b) An increase in the equilibrium price and an unpredictable change in the equilibrium quantity.
c) An unpredictable alter in both the equilibrium price and the quantity.
d) An unpredictable change in the equilibrium price and a subtract in the equilibrium quantity.

The next Three questions refer to the diagram below.

32. Given the equilibrium quantity of 300 units, which areas represent Market SURPLUS?

a) a+b+c+d.
b) a+b+c.
c) a+c.
d) a+b.

33. Given the equilibrium quantity of 300 units, which areas represent PRODUCER SURPLUS?

a) c+d.
b) a+b.
c) a+c.
d) b+d.

34. Given the equilibrium quantity of 300 units, which areas stand for CONSUMER SURPLUS?

a) c+d.
b) a+b.
c) a+c.
d) b+d.

Source: https://pressbooks.bccampus.ca/uvicecon103/chapter/topic-3-multiple-choice-questions/

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